So, we are not wanting to spend a lot of money of something sophisticated just something simple and quick to get the job done.

The fact they can’t make payroll unless you advance them money makes me think you might want to find someone else to do your repairs instead.  

I would look at your lease as some leases are getting sophisticated with adding language of such.

I have looked at Argus and it cost thousands and thousands of dollars.I found it to be too cumbersome.For me I would use a system for my own buying as well as creating reports.Argus is best utilized for buying big properties where you have a bunch of analysts crunching the numbers for a huge acquisition.I can do the spreadsheet thing but I spend a lot of time on the phone with clients and wanted to automate as much as possible in sending out information.I find the level of investor sophistication varies as well.Some want to look at a bunch of numbers and others just want basic info.Thanks for the replies.

If a seller is not represented and it's between the two of you, you might get with the seller (depending on how sophisticated they are) and ensure what you have agreed to will actually fly.

Question 2: Does NewCo need to have a regular payroll?

My agent gets the more sophisticated set.

He spends holidays alone and the only time he socializes or goes to parties is when it involves his attorney, CPA, or somebody else on his payroll.

Luckily I am starting to hear some decent proposals out of Congress now...including eliminating the payroll tax for a year.

Sounds like the consensus from the investor crowd is that agents should facilitate transactions and get out of the way....What about the regular Joe who isn't sophisticated?