I am continuously surprised by the amount of people who spend money with little to no research and then speak as if they are financial savvy entrepreneurs investing in real estate.

I am trying to meet like minded entrepreneurs with similar goals and objectives.

I would instruct the PM to not charge those in the future, but you may want to check on the state laws where the property is located. 

I spend more money per his instructions.

It's a whopping 60 hours of classroom instruction.

If they fail to perform, instruct Trustee to withdraw Beneficial Interest.

I wouldn't suggest you tell anyone that rule, it can be expected to attempt to collect a debt.Depositories may have "dash-accounts" say your account number is 123456, they can give you a dash account, 123456-1, -2, etc. and instruct the tenant to deposit into those accounts.

The second closing docs are executed and held in "escrow" by the title company, subject to instructions from the transactional funder. 

I am not sure if you should be upset with the PM company unless you have provided specific instructions regarding screening.Just make sure you treat each applicant fairly and accept the first one that meet your criteria.Personally, when I see a prior eviction that is a non-starter for me.

First 9 years in the US Navy flying E-2C "Hawkeyes" and instructing in the T-2C.