When it comes to deciding on the organisation of your business a lot will depend on your goals; whether you wish to retain the earnings in the U.S.A. or have them repatriated; and your present situation at home (salary, other income).  

It will cash flow negative, but not too bad and I still retain ownership of the property.What else am I not thinking of?

You can obtain a "sub-servicer" as your back room to grow and retain selected notes for servicing if you like.

My experience is that each title company, if not onwed by an attorney, has an attorney on retainer for title issues they can work through when needed.

Do you retain part of the basement for common laundry (if each unit does not already have laundry)?  

I’ve read that banks won’t provide a loan if a property is in an LLC.Would you recommend my partner and I retain the land trust or create an LLC?

I would still retain the security interest, which is completely different than ownership interest.

In the world of reputable qualified intermediaries the intermediary must retain your proceeds until there is no longer the opportunity to complete an exchange.

If she doesn't, you can give the required notice to end the M2M, or be more aggressive if she doesn't stop smoking.Plan to spend extra time and energy getting the smoke out of her unit, hopefully the M2M is written such that you can retain her deposit to help offset costs.

There are separate fee structures for each component (taxes/bookkeeping and legal), and you pay a fee up front and then a monthly retainer.