Depreciation is typically allocated according to the ownership percentages outlined in the partnership or syndication agreement, which are set in advance and follow certain rules under the tax code.However, some syndication structures can be designed with different classes of partners or special allocations, but these arrangements are subject to complex tax rules, such as the "substantial economic effect" rule under Section 704(b) of the Internal Revenue Code.

Still, that will typically be a rounding error over the course of a 30+ day stay.

Mortgage brokers do typically come out cheaper than big banks.

There are in general less headaches on the front end and it is typically easier to get stabilized. 

Typically, Wholesalers get a property under contract and then remarket the property while it's under control to investors looking to make their spread and then assign the contract and get out of the way.   

Asset management, though closely related to real estate, is typically considered more strategic and financial in nature rather than direct involvement in day-to-day property operations.

That's a typical scenario and could cost you $10,000 - $15,000 so that would be a good starting point for your reserve.But there's more!

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

I'm VERY new to all of this, I don't have much of an idea on what contracts to use, to use or not to use an agent in the process, typical deposit I should put down while finding a buyer, etc.

I may try something like that.For when you do respond @Noah Wright that is am amazing breakdown of how to write a good reply that won't come off as condescending to other guests.We have responded to reviews in the past, typically when it is actually helpful feedback and we address the issue so we can let future guests know it's resolved and that we actively listen to feedback.