Pros and cons to both: STR/MTR is more work, but normally, there is a higher return and higher risk, and LTR is less work and has a lower return and lower risk.

I normally say stay close to home, but if you're in CNJ, it can be difficult. 

I normally just leave out salt for my tenants.

When they are gambling on a completed project, they want to know a battle tested captain is at or along side the wheel. 

Ask a local realtor in your market what closing costs are normally paid by the buyer.

That is why for normal yearly increase I try to stay in the 1-3% range with a max of about 5%.

It's either take the loss as normal, or he is offering the debt option.  

You do not need to have a license to manage an apartment community.Property management can then be broken down into "annual" property management (normally a unit without furniture), a seasonal rental management (such as 2 weeks to several months up to 6 months) and then vacation rentals (sometimes for the weekend, a week, etc..).Each state has its different rules and licensing for each area of property management (annual, seasonal and vacation) as well as the different areas of management (association, apartment and property).I hope that helps.My understanding is that if you are an EMPLOYEE of the property owner you do not need to have a license; if you provide property management services as your management co owned business or as an independent contractor, then you do need a license.  

Reading through the contract offer that my longtime buyer's agent has prepared, I was surprised to see closing date August 7 and first payment due September 1.My understanding is that the buyer normally gets the remainder of the calendar month after closing date, plus the next full calendar month, before first payment is due on the first of the following month.

I'd pay a normal amount and be done with it.