They hire the best to do all that, assure success, and then stay close to the process and learn how to simply adopt that process themselves.

This will help ensure that you are in full compliance with all the legal requirements that come with being a landlord.

(b) It shall be sufficient compliance with the time requirement of this subdivision if the deposit or written statement required by this subdivision is placed in the United States mail as first class mail, postage prepaid, in an envelope with a proper return address, correctly addressed according to the mailing address or delivery instructions furnished by the tenant, within the time required by this subdivision.

Transfer of Certificate of Occupancy/Compliance—does it or doesn’t it transfer to the buyer.

So, I gave him the amounts they were late and the due dates that they missed and assured him that I was in no way being threatening or hostile.

I pretty much can assure you in Michigan there is PLENTY of distressed real estate still.My team has done 5 in the last year.. and all were off of MLS... 

Giving the existing tenants a chance to resolve their problem and come into compliance is something fair housing advocates like to see.Note:  I'm not an attorney nor giving legal advice--just passing on information.  

@Johnny Park I believe you have four main concerns: (1) cumbersome management of the LLC; (2) corporate compliance (am I managing this LLC so that it is effective in litigation); (3) due on sale clause because of the transfer to the LLC; (4) commercial insurance being expensive.Here are a couple of my thoughts on the issue which I would be happy to answer in more detail offline:(1) You may not need bank accounts for each Series if you are diligent with tracking the money in a single account.

Keep on top of the PM for awhile to make sure he is doing all the things you need, i.e. registering the property with the City of GR, arranging for the inspection, having any work done in compliance with EPA RRP rules, following fair housing laws, using forms that are actually legal in Michigan, etc. 

The pre sale compliance is what kills a lit of interesting deals.