Can the seller provide operating statements and rent rolls? 

You might want to rethink how you operate.

My husband discovered the Morris investment you-tube videos and has been excited at the prospect of investing in a turnkey operation in Michigan.

I am a 37 year veteran of the real estate industry having owned and operated a multi-office real estate firm in this market for thirty years.

The long term business behind it is property management after we purchase the rental, put tenants in, and sold it to our investors.We think it makes sense to establish an entity to operate this on but we are not certain how best to structure it. 

If you message me privately, I'd be glad to send you our core MTM rental agreement.

One example is the major employer is closing its operations.

Without that income it can make things extremely tough to keep the house operating .

The other consideration is order of operations. 

I am pursuing a degree in accounting because I believe it teaches one of the core principles of financial literacy and success such as accounting (management of money) as stated by Robert Kiyosaki (author of rich dad poor dad), Sales (management of people) be taught through experience as a RE agent and  management of businesses is taught through the college or RE agent experience.