I also am wagering that if this was not a large complex, the fact that there is a property manager means the landlord is more likely to hire a lawyer.You are correct though, that if this was a rental owned and operated by an individual, in their own name, they could 100% represent themselves.

I should note, I do own other units in the complex so I am very familiar with the rental rates and property structure. 

I believe large MF complexes will have unlicensed people do the property viewings and then the licensed PM's will handle all the financials.It's similar to a timeshare sales pitch. 

Purchase price: $332,500 Cash invested: $66,116 this is our first Multi Family, coming fully rented and running with a property manager. we sign everything on Monday then I will be heading over to the complex with our lease and to walk through the apartments again.

The laundry area should have been inspected by the inspector during the inspection phase.UPDATE:I just realized that I wrote this more thru the eyes of a large apartment complex.

A couple places were given that zoning around the large complex.

This is a very complex area that is impossible to cover in an online post.As a side note, I would strongly advise my clients against investing in a project where someone expects 50% without any skin in the game.

@Scott MacLooks like a really complex ownership structure.Looks like there will be some California nexus since it looks like the ultimate people managing the affairs live in California.

It is a 14 unit residential apartment complex.

In many Landlord-friendly states you could purchase an apartment complex for this price and make significantly more cash flow.