There is much to learn: pricing, marketing, screening, contract law, lease enforcement, late/unpaid rent, property abandonment, squatters, maintenance, tenant neglect or abuse, communication, and 417 other things.Buying a decent property but not managing it well can impact your finances, marriage, sanity, physical health, and desire to invest.

Maybe they communicate differently but have good intentions.

Just make sure to document everything and keep communication open.

First you need to learn to separate the following:Maintenance: usually things related to wear & tear or tenant damage.Repairs: usually broken items like doors & windows, caused by tenant or nature.Capital Improvements: usually expensive things that wear out: hot water tanks, furnaces, roofs, etc.The seller is correct that Repairs & Capital Improvement items should not be a factor for awhile (ALWAYS get your own inspection to confirm).

Openly communicating the selling process can help alleviate their fears and ensure a smoother transition.● Transparent Communication.

More likely that the document is correct, and the change to 12% was made recently. 12% seems to be middle of the road but still pretty decent, yet generally Baltimore city RE is a bit more risky than rest of MD .Lonnie Pickard

You are closer to correct if you are looking for large-scale multi, but still sound like someone who asks questions and only wants to hear what he wants to hear.

If done correctly, it is for liability purposes.   

.: In my (non lawyer) experience John is correct here.

So then you can add several properties under that same LLC if in the same state correct?