They will hold the funds, sign every document, cut every check, and receive every deposit. 

You don’t want a budget firm that will cut corners, but you also need to keep in mind that the management expenses eat away at your earnings.

Since you are an agent I will assume it is not as cut and dry in NJ as in TX but even if an offer is accepted, the clock doesn't start ticking until earnest money has been deposited with the 3rd party (title company). 

;P  LOLAs for the predictions, these topics remind me of the old guys that used to hang out at the barber shop where I used to get my hair cut, back when I still had hair to cut :)  .

I hate to break it to you but a post on BP isn't going to cut it. 

I need to get creative. Am I able to take a single family property and transform it into 2-3 units? Is there any laws that would prevent me from doing this?

The house is 4,500 sqft., XL backyard, koi pond, very well ...

Here is my planuse remaining 1031 exch money for unit #1 ( need full price to satisfy the total 1031 exch minimum)Get a 30% price cut on the other 2 unitsGet hard money loan 18mo for 100% purchase of the 2 units. 

Though I want to end there and would love to start there with no toilets, tenants, or trash, I didn't see a viable path without cutting my teeth on smaller ventures.

Do not try to cut any corners. 

NOOOO that still does not cut it. the LLC needs the license and bond as well. its not like being a GC.. which is my next move.. so this is very much state specific..