However, I would recommend talking to a qualified professional to avoid expensive charges down the road.

Although I did not retain her because I do not have enough properties to justify PM expenses, I definitely feel her knowledge in PM and drive for results are outstanding.

Rationalization is the most expensive word in the REI vocabulary.  

Again, the point here is more that my current market is extremely hot and expensive, so I'm looking to move to another market. 

These properties cash flow using a $300/unit per month cap expense and 5% vacancy (our vacancy rate is less than this) and 5% maintenance expense.

As for Northern Michigan, the Traverse City area has become expensive and tourist-heavy. 

If the seller or tenants refuse to do this, then you can ask the seller to put 45 days of PITI + expenses in escrow with the remaining balance refundable back to the seller if the tenants move out earlier than 45 days (this however, does not guarantee that the tenants will move out within 45 days but it does put pressure on the now seller/landlord to push for option 1 - having the tenants sign something). 

Assuming 15k in repairs and you can refinance for 60K, then your break even rent amount (after expenses) comes close to $800.

These expenses can add up quickly and close in on your margin.  

With in 5-7 years I would like to be able to financially stable, that is to say that at this point I can cover all living expenses as well as be able to be able to purchase a car, or new appliances, or cover medical bills, all without having to worry about if I'll enough money to eat that week.