It sounds like you bought a crap hole in the city of Atlanta for cheap.I really hope that's not the case.High taxes and bad rehab jobs make these properties real losers.I looked at the 2 years ago for a few months traveling all over the area.At the time they were priced at about 30,000 a house.I was looking at the area because my area in the burbs 45 minutes out was dropping but still at about 85,000 a property which was too high for me.Now in Atlanta some of these places are going for 5,000 and in my area which is much nicer has gone down to the 30's to 50's a property.I specifically do not buy older places in Atlanta.If you know the market there were these groups say 4 to 5 years ago.They came in and did hack jobs and then flipped these properties for crazy amounts.They took the money and ran making over 100k a property and the appraisers were involved to.They did nothing but put pretty lipstick on a turd.Now these properties have galvanized pipes,foundation issues,lead based paint,asbestos,mold,knob and tube wiring mix with current wiring,radon,etc.It sounds like with this turn key company they are padding fees on the back end.Real estate brokers that sold REO used to do this kind of stuff.They would only be making say 2% on the sale of the property.So for the trash out the REO broker would use a company that had ownership in and make up the money over billing the servicer or bank.This lasted for about 6 months to 1 year and banks caught onto it which is why they use third parties to ensure they get the best pricing now for all of the steps in selling an REO.Anytime I hear "turn-key" I would run away.I have not had experience with them but have heard nightmare story after nightmare story on here.It sounds easier for a company to dupe an out of state investor than one on the ground that can watch what they are doing like a hawk.This property management company knows they are padding.Why else would they put a clause if you cancel you pay all of this money??

How is condo ownership recorded in county archives, when there is no property lot?

I was asked to help purchase a number of cash flowing properties for a family member. I have a bit of experience and am investing in a market much friendlier to cash flow then the family member. Because of my knowledg...

As his personal property, his ownership interest in the partnership will pass to his heirs, which may change (from "his daughter" to new wife, kids, siblings, or whoever)Now, the ex-wife could find herself in the position of being partners with the new-wife guardian of the daughter who is still a minor, which might be awkward or even destroy the property.

For example, a transfer of ownership my eliminate the grandfathering.

Would you evict her when you take ownership to decrease you risk?

As far as the LAN goes, you take it out in your name and then after closing, transfer the property ownership from your personal name to the new entity.

Usually, leases can be assigned from one ownership to a new owner.

At the same time, I am too old not to worry about the risk of losing my life-time savings in lawsuits.Many people implement the solution using one LLC holding the property ownership and another separate LLC to handle the riskier management operations.

I always get bored and do a little record digging, it's very funny how a flip can end up on the market for rent but never change ownership.