If you are doing management for others (Third-party Property Management) you need a Real Estate License, and your Broker has to maintain the trust account and allow you to do Property Management. 2) You don't have to be a Broker to do PM.

The majority of contracts are written up that way to be owner friendly, as long as both parties do what's agreed upon. 

When people use the term "property manager" they are typically referring to a third party who manages rental property for another.

This is what makes a loan officers job difficult -- estimating the third party fees from the beginning (they will get actual costs once in process).Hope this helps!

I feel this reasonable to balance the interests of both parties. 

So let's say that you've got a house for sale and you accept a buyer's offer contingent upon the sale of a property they own.Then you get a cash offer from another party wherein their Realtor tells you that in your state, if you, the seller, gets a cash offer, then Buyer 1 has 72 hours to come up with their money or lose their contingent offer.Not getting anywhere looking this up, so BP is the go-to info machine.Something sounds off about this.....?

You mention "other means to clear clouds" and that is a VERY good point that you can find prior owners or interested parties and have them sign off on their rights by giving you quit claim deeds etc.

Also, even though a party can be thrown anywhere, party groups are more likely to book 3-4-5 bedroom places vs.a 2 bedroom. 

It is much cheaper than hiring a third party.  

From what I've read, the quicker these parties get a call the more likely you are to get the deal.