I’m very confused about this. If you applied for Ross preferred admission in your freshman application, are you admitted to Ross in your second year, the year you transfer, or do you have to apply in your sophomore year like you would in your first year? Wouldn’t that mean I’d miss out on a year if I’m applying my sophomore year and would graduate in 5 as opposed to 4? Or am I just not allowed to apply for Ross if I have a GT to UMich?
And getting into Ross is only a matter of enrolling in some required courses and meeting the required GPA right?
In my guaranteed transfer e-mail it doesn’t say anything about Ross just LSA and the form to confirm I want to enroll doesn’t say anything about Ross either
Ok so from doing some research from people asking about transferring into Ross as a junior - since that seems to mirror my predicament - one would have to take another year to graduate? Can anyone confirm this?
Yes, you would take a full fifth year to graduate from Ross. I guess if you rejected your guaranteed transfer you could maybe apply to transfer straight to Ross, but the odds of getting accepted that way are essentially 0 (Ross takes almost no transfers). So your best bet is to take the GT, make sure all your prereqs are taken care of either once you’re at Michigan or the year before, then apply to Ross like all the typical applicants do. Ross looks at all applicants the same, no matter their year, class standing, or how many years they’ve been at Michigan (although the vast majority will be your usual freshman applicants, as you’d expect).
Because of that, though, there is no way around taking a full fifth year to graduate, since you will be reclassified as a sophomore when you enter Ross and the core curriculum is such that a full fifth year is unavoidable. Not that having to spend another year as an undergrad at Michigan is a bad thing… 
The GT does not include Ross preadmission. You will need to apply to Ross again after transferred. Ross is a 3 year program.
I would take the GT if you’re ok with graduating from LSA, then if you do get into Ross, you can decide at that point if you want to take the extra 1-2 semesters. I don’t know if it’d necessarily be a full year, since lots of ross transfers take prereqs like calc at the local jr college. Maybe you could start in winter sophomore year or somehow manage the timing that you’d officially join LSA after your 1st year and then apply to ross before even starting classes
Getting in to Ross also isn’t just a matter of getting the required GPA in required courses. It is a competitive holistic process.
I don’t think you can avoid taking an extra year. Ross has only one admission cycle and you must start in the Fall.
“Lots”? Only 1% of the class (4 or 5) is admitted via external transfer; I doubt if many are from local junior colleges.