So they might be writing 12% paper ( common) and taking 5% to service it all and giving investors 8% return. 

@Shannon Kosko, tenant protection is something that kicks in after the lease term ends and you haven't officially ended the lease (in writing).

I'm Brian Silvia -- by day I write & ship code, but by night I'm either doing Crossfit with my wife, or working with her to get spun up on real estate investing.

You want them to know you are an agent AND you want them to know you ARE NOT acting as their agent and you want that in writing.

Try to imagine if you bought it and then started writing checks for $250/mo to four complete strangers, $12,000/year.

My team and I never hold our clients to the 3% if the BAC is say 2% or 2.5% and I doubt many would, but it's always best to get something in writing if you're concerned, and your agent can write an addendum for you.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

My initial though is....dumpster everything but jewelry as I don't want to deal with the time it take to sort things.Can you donate it and get a huge write off from good will?

I don't know about NJ but in my area that disclosure has to be made to buyers in writing.

With no additional cash, you can purchase a cash flowing property that will give your tax write offs, appreciate in the future, hedge against inflation, and hopefully put enough additional cash to go out to dinner a few extra times per year.Good luck, hope this helps.