As mentioned before, Check Commerce wouldn't answer any of my questions regarding erentpayment, so I called their Sales Dept, posing as if I wanted to procure their services.

It depends what you signed, but otherwise,  because that realtor's marketing did NOT locate those buyers, it was in fact your marketing, there would be no "procuring cause" which is sort of the magic word for if a previous realtor's efforts are responsible for finding your buyer.However your contract may have some sort of stipulation that if you find a buyer within X time, she is entitled.

If you're willing to consider outside the beltway, you may be able to procure land and build for around 1M.

Hey @Sam Tomar,All of these replies have been great, one thing I have been considering and made sure not to overlook is having the following included when calculating my NOE.Management Cost: In the context of an out of state ownership I would assume between 10-12% (of your yearly gross income) as a fee from a company that would manage the property (Procure tenants, manage any maintenance projects).

In my contract, I provide "30% upon order of the materials, procurement of necessary building/general repair permits, and commencement of the work;" 

The tenant would have to Immediately Procure Business Liability (and ideally renter's) Insurance and add our LLC which owns the property as the additional named insured2.)

If he told you about it first, before you talked to your friend, he can show he was the procurring cause of the purchase and can sue you if you buy it.

(I am no lawyer) Does your lease require that you procure any of those services?

Until you procure an interest from someone in the chain of title, you have no claim to the property and no claim to open up a probate action.

Last thing I want to do is a favor for someone and end up in hot water as the procuring cause if for some reason the deal tanked.. and as we know deals can tank.AS for multi.. not really anything I personally do but I have looked at a few lately in our market and they are selling at 3 to 4 cap... and when talking with brokers they say they have multiple offers and most are being bought by 1031 folks..