Being "in the market" to transact business includes those with an intent to buy or sell, contemplation to act.

Hi,I was contemplating this same issue...We just purchased our third rental property (all are multi units) and here is what I have done so far:  Savings account for security deposits, checking account that rent gets paid into.  

@Rob BelandGreat post with lots of meat on the bone to chew on, while contemplating which side of the fence fits the reader.In your case, clearly you are a landlord 1st and investor second and that is solidified by your occupation announcement on BP as well.Yes, the fact of the matter is that there are individuals who are really REI focused and are hiding behind the cloak of a landlord to sustain their income stream, while not servicing the tenants who are the lifeline of their business.Some are called slumlords and rightly so.My take is that you can wear both hats equally as a REI and landlord, but, landlording is more labor intensive as you know, than being a pseudo REI centric person or to put it another way, a money grabber who has no empathy for the source of funds generator......the tenant!

Here is a thread on a really bad house that'll probably make the one you are looking at seem like a simple project. http://www.biggerpockets.com/forums/223/topics/133...Nevertheless, the complexity of any project you are contemplating should be commensurate with your experience.  

I'm asking because I've been contemplating offering this service to listing agents.

@Robert Hidrogo  Forget about flipping if your not cashed up and ready to roll your wasting your very precious time.let me offer some other thoughts for you to contemplate get a Real Estate license  work on a Big team they will help you get started Make MONEY why you learn the industry. 

@Conway ChuramanTime for a life lesson.First, save the drama and look at the facts.I did exactly what you are contemplating (lived in NYC and looking to move to FL) exactly 24 years ago.Sounds to me like someone needs a bit of time off. 

I've contemplated calling him and making an offer but I'll probably be able to get it a lot cheaper later on. 

As a long time renter having lived in Miami, San Antonio, New York, San Francisco and San Diego, i can speak from experience that the increase youre contemplating would upset me and make me move.

Are you contemplating buying the house?