Much of the time, you will need 20 percent down payment which could exhaust your entire capital reserve (down payment loan for your friend).

I am active in a few markets, as well as well connected into the St Cloud and surrounding market, with that I can share that here in the St Cloud market we are very... protective and private, mostly out of exhaustion and frustrations of being badgered by 101 non-active tire kicking wanna-b's who ask a million questions, have little to no respect of our time, and do little to nothing. 

We always recommend exhaust the least expensive options first before going the commercial route.  

To understand this gap, I would love to get my hands on a mutually exclusive, completely exhaustive list of activities a realtor does as part of their 3%.

Lots of legal opinions here, but most are inaccurate.It is true that, absent an estate planning vehicle (trust, etc.) there needs to be someone with “standing” who is empowered to pass title. 

That is, sometimes an agent and seller with lower the fee to the agent when the property is tough to sell.This is a strong list but it is not exhaustive.

.), and therefore would be satisfied working projects from $1,000 to $50,000.I scoured BP, Google, Houzz, and Buildzoom for reviews, ratings and license checks and shortlisted: Before & After BuildersSCC Residential Design & ConstructionThe Dave Moore CompaniesCapital ConstructionDan Caldwell HomesG&G Construction SolutionsR&E RemodelingVollmer ConstructionAtoZ Construction SolutionsThe list is neither comprehensive nor exhaustive but these contractors fit my criteria and have solid reviews.

PaulaWe always counsel our clients and potential clients to exhaust their conventional financing options first and then pursue commercial financing. 

I didn't have the clientele to withstand the market crash of 07-08, so I used my degree and went into the tech world.

Usually 10% of my tenants leave the place better than they moved in, 10% of my tenants leave the place worse than they moved in and we had to exhaust their security and pay the cost in terms of 6 to 12 months rent to bring a property to listing condition (depend on how long the LTR tenants have lived there of course).