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Do they charge any fees in addition to their asking price for properties?

@Tessa BoothWelcome to the community and be ready for a huge amount of information at your finger tips.

All mid-term rentals are furnished for the most part.

Extensions may be granted for valid reasons, like needing more time to secure financing or complete due diligence.

When there's tenants already occupying the property, there's often times different leases that were signed among the tenants.Additionally, renting by room usually sees higher tenant turnover which in turn causes more work for the PM.Other challenges to consider:- Disputes/conflicts among tenants (different personalities if a tenant doesn't know the others prior)- Occupancy limits- Splitting utilities (what if someone uses more water?)

For the last 10 years they have all purchased cash 

I've spotted a package deal for two duplexes right next door to each other.

@Alec Raven this is our "bible" for PMing.https://www.legislature.mi.gov/publications/tenantlandlord.p...Does your state have something similar?

Leasing to your own LLC is a great idea for extra liability protection and potential tax perks.