No expert but I love plants and am still learning. Should I get my dream water-front property (hopefully soon), I will build three sun rooms --- one surrounding the house on the second floor for mature plants and flowers; one for tropical garden; and one for nursery.
It just so happened that lilies are one of my favourites --- I have four peace lilies (three varieties). I like pure-origin plants, not so much hybrids.
There are several ways to propagate plants. I tried to do that with gardenia and hibiscus but failed in my first attempt --- not easy to do that with hardwood plants. But I think I have figured out a different way to go about it --- propagating on the existing plant. For many non-wood plants, simply cut and soak the clippings in water and soon, you will have rooted cuttings ready for planting. But for hard-wood plants and vines, that doesn't work out well, more often than not. I plan to propagate gardenia, hibiscus, Chinese jasmine, Madagasca jasmine and so on again in late August with my new way. For your michelia, I think it can be propagated in the same fashion.
Now onto planting and caring. Although michelia belongs to the magnolia family and magnolia can survive the harsh winter, michelia won't because of the higher hardiness requirement. If I were you, I would treat it as an indoor plant. Transplanting is the first step. 1) Get a good soil mix to start with --- 50% top soil, 25% peat moss, 10% wood chips, 15% manure, add some pine/spruce needles for acid, a few egg shells for organics, and some Shake'N Feed slow-release fertilizer; 2) Take your tree out of the planter and get rid of most soil deposit with a gardening hose; 3) Plant it in a 10-12 inch clay pot --- raise the pot so that it doesn't have to sit in water runoff but do leave some water in the dish to form mist; 4) Let water from the hose sit for a day before watering such that if is of room temperature and chemical residues are evaporated --- place a huge bucket outside to collect rainfalls would be better; 5) 2-3 hours of indirect sun, afternoon sun is preferred such that mold and fungus won't grow; 6) Don't move it around.
I just transplanted my gardenia tree yesterday. If you can take good care of gardenia, you can take care of any plant. Good luck and have fun!