Buying Rental Property - No Realtor, What's Needed?

[Patrick Owens]

Recently, I attended a local REIA meeting and met a fellow investor who stated he is selling one of his three properties to pursue a construction project.

The house looks great and has a tenant in place paying $1500/month until the contract ends in October.

The owner has the property market below market value because he is not involving a realtor to sell it. Sort of splitting the savings with the buyer.

This would be my first rental property purchase.

What services does a realtor typically perform in a transaction that doesn't require selling? In other words, what will I need to do for my due diligence?

1. Title search

2. Home Inspection?

3. ??