I thought I didn’t need it but as I started dealing with “agents and agencies”that had bad habits which cost me good deals.

Then use a recovery agency.

@Bernadeau Charles the banks that make the loans to the LLC don't report them to the credit agencies. 

The term "commercial" very unofficially applies to anything outside of agency lending.  

About 3/4 is National in nature (and standardized) and about 1/4 is local laws pertaining to real estate agency.

Even then electronic access to properties is becoming more main stream where realtors don't need to be present to show a property.

I had a situation where the tenant was recovering from a  liver transplant and i filed for eviction but also provided her with a list of agencies that could help her. 

I have every buyer sign the agency disclosure where I tell them straight up that I represent the best interest of the seller and the whole time I'm trying to get the seller the best deal.

They are also subject to rules governing service termina­tions to multiple dwellings, customer security deposits, payment agencies, back-billing and the refund of overpayments.Municipally owned water suppliers (those of cities, towns, villages, etc.) are not governed by the Public Service Law.

Additionally, I will add:-I don't think 38% expense ratio is being conservative, being at 50% is conservative and some buildings exceed this-bank won't even lend on a deal with a DSCR that low, you need to underwrite to at least a 1.25 or the deal won't get done-figure out what financing vehicle you're using, agency debt (Freddie) is possible at a lower LTV and interest rate but comes with requirements, community bank is tougher to get 30 year am on-I see nothing about exit assumptions, you might have to refi/sell after 5 years with higher interest rates and a softer market...then what?