Therefore, if I were to do a PM company for hire, I would have my own brokerage.

Did the original agent leave the brokerage you had the exclusive with?

The broker lost his membership and no membership = no brokerage. 

After adding brokerage, transfer tax, title insurance as well as accounting for any capital expense to replace 20+ year old mechanicals/roofs etc.  

After adding brokerage, transfer tax, title insurance as well as accounting for any capital expense to replace 20+ year old mechanicals/roofs etc.

its the only way to scale in the real estate commission based business.. just like opening a brokerage U need sales people. 

I am still a bit of a newbie investor but do feel like I can add value to a project through being a licensed realtor, current business ownership experience (5 years owning an insurance brokerage), and having some capital to invest.

If an agent puts out tons of really low ball offers that are not even in the realm of possibility then they will likely get blacklisted by other brokerage firms in the future as working with flakes for buyers.I had a guy the other day in California with 25 million cash.

My first foray into Real Estate came when I began working as ad admin for a national commercial real estate brokerage firm.

The best way to learn alot about potential submarkets below $380k is the mls and through a good investment broker/agent.