You lose your job, your wife loses her job, the city you invest in gets crushed, the banks you deal with start tightening the reigns, your contractors go under, your funding dries up, etc.

Go to seminars, take courses, buy books (and read them), join a local REIA group, study real estate, spend your weekends with your little guy going out and inspecting properties; but most important of all, KEEP YOUR POWDER DRY until you know what you are doing."

For me, I own almost all of my properties free and clear, and have very little overhead, so I am totally happy taking on limited debt at better rates and earning a great residual cashflow and just reinvesting excess profits. 

Since you are an agent I will assume it is not as cut and dry in NJ as in TX but even if an offer is accepted, the clock doesn't start ticking until earnest money has been deposited with the 3rd party (title company). 

The trust rates were reduced slightly with the 2017 tax law, but not nearly as much as the corporate rates.2018 Estate and Trust Income Tax RatesIf taxable income is:                                The tax is:Not over $2,550                                       10% of taxable incomeOver $2,550 but not over $9,150          $255 plus 24% of the excess over $2,550Over $9,150 but not over $12,500        $1,839 plus 35% of the excess over $9,150Over $12,500                                            $3,011.50 plus 37% of the excess over $12,500Because of the new corporate tax rates, the use of a UBIT Blocker corporation may now make sense for those investors wishing to regularly engage in UBIT exposed activities such as house flipping. 

For estates in excess of $100k they are required to go thru the full probate "Decedent Estate Administration" process. 

Can you increase the rent by the amount you find excessive?

They were supposed to requested written permission to spend anything in excess of $100.00.

I would appreciate it if someone can recommend a good electrician, HVAC & dry wall contractors.

I had a similar situation (oddly with a dry waller).