Converting the half bath into a full bath is a worthwhile expenditure but the logistics of the space will be difficult.120K is a reasonable ARV; 130K is a possibility but I would base my decision on 120K.

So then you're facing two problems -- an ethical one and a logistical one.Ethically, it's not right to make bank on the back of another's investment.

Like, how do the logistics actually work in the real world?

Of course a mall requires more than anchor tenants...There are other big names like WalMart, Zulily along with others you likely have never heard of such as ITS Logistics and Folcrum Energy that have moved to the Reno area recently; more on the way...Take a look at this REPORT from the local economic development authority 

That way we generally do not need to registered the LLC in that state (saving $) and with the ability to argue that the trust might be in a non-recognizing state, but the beneficiary is and the home state laws would apply.There are some bookkeeping and logistical hoops to jump through that are different than a standard LLC.

I just need to understand the logistics behind getting the deal closed.

You want them to work so bad, or they work at first then you discover something that is a deal breaker and you don't want to let it go...just don't fool yourself that they will work when they likely will not.I have a property that I am trying to work and looking at it from 30,000 ft it is probably more of a mess logistically, risk level and amount of investment required before closing than I should be getting into with my experience level and resources but its a great property that is a few houses down from ours so every time I pass it (everyday) it calls to me.I am sure others would agree, there are always other (better) deals...

You will need help with finances and logistics.

Rather to point out that even with a pretty broad professional and educational experience, I honestly believe Property Management is one of the most difficult professions to master, mainly because it is so broad - you have to know a lot of stuff, about a lot of different stuff, to be a good property manager, such as:People skills - dealing with owners, tenants, contractors, government officials, real estate professionals, etc.Project management skills - timelines, logistics, financingAdministrative skills - property management software, rent collections, leases, contracts, renewals, bills, payment processingConstruction and renovation skills and cost estimatingMarketing and Advertising - if prospective tenants can't find your rental listings and become leads, then you won't last longCRM and Database management - lead capture and workflowDue Diligence - interpreting tenant screenings, background and credit checks, etcTechnology - PM software, electronic lock boxes, real estate apps - probably the toughest on this list to keep up withLegal - landlord/tenant laws, Fair Housing laws, Credit Reporting laws, privacy laws, evictions, etc.I could go on and on.

So I know this is a very newbie question, but I was wondering about the logistics of taking the contract to the title company.