This is the first time this has happened, but thanks to the power of the internet, I am betting this is bound to start happening more and more.  

But for me, it served as a powerful lesson in how on-paper returns never tell the full story: real estate investing is just as much about the people as it is the numbers. 

Besides your taxes, insurance, and HOA your tenant will should be paying an have (water,gas,power) utilities in their name.

**I know word of mouth is a powerful tool, but how do you get your first ones when no one knows you?

You are in the position of power here and they did you wrong (not the reverse). 

A less expensive alternative, I think, might be to consider submetering the electric for the units off of the main power panel.

You’re probably already familiar with the power of commercial real estate.

In fact, we had to walk on a deal for this very reason, because the sellers had let the electricity be shut off, and the municipal power board wouldn't reconnect without a full electrical upgrade (wiring, panel, proper number of outlets, counter outlets, etc).

But I would appreciate insight from those who may have done this or something similar in the past.MikeYou may need a limited power of attorney to communicate with the bank and for insurance matters.If you are on title as the trustee, you can sell the property, if those powers are granted in the trust document.Most institution lenders typically won't lend to a trust if you want to refinance.  

Of course, get all the documents that go with putting a property in a land trust: the deed, the trust document that does NOT get filed, limited power of attorney, release of information authorization, assignment of beneficial interest, and most importantly get the sellers NEW address and their phone number in case you need to contact them in the future.C I have never used a servicing company to accept payments for my properties, but then again, I dont have that many.