Rents come in and go right into the proper accounts ( parents, brothers, mine).  

I was hoping to purchase the deed, do the ejectment and quiet title under the proper timelines, and hopefully, one day, build my family's dream home on this property lol.

Another idea is to execute an addendum to the LLC operating agreement to lower Marilyn's membership percentage in the LLC and increase my and my spouse's percentage so our funds can stay in the LLC.

That being said, I was considering taking all the proper course work (it costs around $1500 at a local community college) just so I could learn the more technical details of the business. 

After reading a few forum posts about the Seattle market and seeing a few MLS listings for multi-family homes, it seems like people are recommending to buy properties out of Seattle proper due to strict regulations for renters and price increases.I was originally looking in areas such as Ballard, Fremont, Wallingford, Greenlake because of the influx of technology employees such as myself but it seems that majority of these areas have increased prices and strict regulations.

is, what are the proper steps someone like myself would need to take in order to get my property management business off the ground and running?

Do you really want thousands of dollars hinging on whether or not high up executives choose to expand in a certain city? 

@Chris Seveney I agree that most of the risks which were said prior can all be mitigated by proper due diligence.

This may play a factor in the strategy on how to handle this situation.It doesn’t seem like there would be reasonable time for the seller to make a proper repair before closing, so best approach would be to request a seller credit.

I heard that if we do not fill the tax return forms properly we will be fined about $600 each. any response is appreciated.thansk