@Janel Y. it all depends on the size of the building (number of units), type of property (senior living, sec8, C-class, A-class etc) and what you're looking to get for services ("the full monty" of tenant management, leasing and building management or just some certain aspects etc etc) Even then it's not so cut and dry as to who's "good" at it, some are better at tenant placement and leasing and others are strongest at the on-going management and have good maintenance teams.

Hire a CPA to prepare your taxes and advise you on the tax aspects of land lording.

Their agent was solid so that's why we decided to work with Empire Property Management, their sister company, which ripped us off on the PM aspect of the business by frequently and overcharging us on many maintenance requests (they have their in-house contractors).

Another potential buyer came to my listing at an open house and loved most aspects of the listing but wanted a room where he could run his business out of.  

Totally get the political aspect.. will need to research getting money out.. 

Josh covered the SEO aspect.If your brand is your name then the website should focus on the brand even if the SEO impact is slightly reduced.It is a business decision and for many business the website is not the most important aspect of the overall business.John Corey

The fees are typicaly for the appraisal, (commercial appraisals are much higher than residential, some start at $2500), and other aspects related to the purchase.

First, while others here may disagree, I'm a big believer that -- until you have a few deals under your belt, are comfortable with every aspect of the contracts and fully understand the REO process -- you should have an agent who represents YOUR interests, not the seller's interests.

Conventional financing will usually want two years and an annual lease with 6 months remaining after closing, this will vary some but there are several aspects a lender may look at to compensate for such requirements.As to cost of money, it depends on your loan amount as it costs more to borrow more, but you can expect about 5% of the value for points, loan and closing costs.

That being said you are fighting an uphill battle in Detroit, the city is faring so poorly financially that the state will likely take over some aspects of its financials.