Makes complete sense @Michael PlaksI was having trouble determining the actual amount paid to my advisor between his management fee as well as trade commissions.

The position will be commission only but I assume those who love real estate and want to be involved understand this business is "Work first, get paid later".

If I really thought I was being lied to again,  and bought it anyway,  I would ask the Real Estate Commission to look into it.  

If you have one that has commission breath, find yourself another agent.In addition to the market knowledge, a good agent will know how to negotiate the best possible deal for you.  

HOA fee - If HOA fees are not paid, business will incur fines, so it is necessary to make the profit in the business.8) Marketing expense and advertising9) Cleaning and maintenance10)Commission (Expenses like commission, abstract fees, recording fees to obtain your mortgage are not deductible but rather capitalized )11) Insurance12)Legal and other professional fees(Tax preparation for business, not personal part)13)Management fee if applicable14) Points- you generally cannot deduct the full amount the first year but have to deduct them over the term of the loan.15) Repairs (Note always do repairs rather than improvements to rental because repairs are deductible right away and do not have to depreciate over few years as done for improvements.

When an agent has an agreement with a seller you need to be mindful of the agreement and commission.

Originally posted by @Melvin List:@Liam Mooney if you are moving from a W-2 job to another W-2 job you should be fine.Agree, assuming your not partly or fully commissioned, overtimed or bonused, in a manner that is of underwriting relevance.

I'm looking to buy property in Troy / Novi areas and looking for an agent.I have heard that agents offer rebates (share some % of commission back to the buyer) during the closing.

When my current lease is up I plan to rent-to-own it, that way I can structure the deal to minimize (or hopefully eliminate) any expenses during the lease term, get the loan paid down some more (extra 30k in equity, assuming 2 year lease) and avoid sales commissions.

If they have to pay an agent to sell this property and the buyer agent as well then the $15,000 margin might not even be enough to cover that (4% commission is $17,000).