Not only must you know real estate laws and business, but you also need knowledge of the legal intricacies of foreclosures, divorces, probates, etc.

As long as it is legal.

However, I want to ensure I'm properly structuring deals, receiving legal and fair compensation. 

To see significant tax saving, the management income has to be significant so.The bottom line is that PM would be for more legal reasons and not for tax reasons.

What MAY make sense is to setup a Master LLC that operates like a PMC and collects all your rents, pays all your property-related expenses, etc.The owner of each property (you, LLC, trust, IRA, ect.) would have to execute a management contract with the Master LLC, so the Master LLC could legally act on behalf of the property owner(s).Check with Account Closed read our 

In the event of default/non-performance on a CFD for vacant land in one of the hypothetical "foreclosure" states I mention above, does the land parcel have to go to auction, with bidding starting at the unpaid principle balance of the contract (plus late fees, legal fees, etc.)?

But I am open to it if I can use the security deposit to replace the carpet (not sure to what extent it is legal).I was thinking of getting landlord rental protection from Zillow to cover pet costs but my premium will probably shoot up since the place is carpeted.Would love your thoughts on this dilemma!

By not engaging a listing agent, you not only take on the challenge of dealing directly with buyers’ agents but also increase your risk of legal exposure.

I can’t tell you how many times I was told by an uninformed agent that something was legal or zoned for and was wrong.

The State of New York does not have any licensing for Contractors with the exception of Asbestos Contractors, Crane operators, Elevator Contractors.