Smaller newer groups could benefit from this partnership idea though.

This does not benefit our long term goals at this time and we choose experts in these areas so we can focus on our strengths.If you have a 3rd party PM do they use a trust account or do you write the checks and pay the bills?

Your money pays both agents commission, it pays for everything.Being commissioned based agents are inherently greedy, literally part of the job that they won’t admit to. benefits of using the listing broker- feeding the beast-listing agent wants both sellers and buyers commission and will fight for your deal over other offers even at a lower price because they make more $$$.If this is your first deal and you aren’t sure what you are doing or looking at it may be better to find an agent. if you are pretty familiar with the process it’s really no different who represents you as long as you can stand your ground and represent yourself if needed. 

.#2 Make sure you have 6-9 reserves for the Condo#3 With the loan money, you can explore options with purchasing your primary residence, how much would that help your monthly mortgage instead of renting. ( don't forget about the tax benefits of homeownership in tax write offs of property taxes and interest)I am not sure how much equity you have, but if you still have cash left over, I would consider re-investing in another property. 

Tax benefits and cost seg can play largely into investments at the end of the year.

(2) The bond shall be for the benefit of persons making security deposits with the landlord.

Moving him out of one unit and into another doesn't benefit you unless the market is difficult.

However, there are tax benefits as well that come with owning real estate - your rental income should end up being tax free after taking all the deductions you are entitled to. 

It is more work, more time more effort doing it your way (honestly), although your way has obvious benefits as well.

I looked into this myself and looked at the benefits of using a custodian company.