The industry continues to see consolidation, with private equity-backed firms actively acquiring, albeit at a slightly slower pace than the frenzy a few years back.

The one with the higher number has 1 active and 3 pending listings pretty similar to my property.  

In Central Jersey where the majority of our sales activity is, the towns vary widely in enforcement of this. 

Are there policies that protect against guest damages?

Sounds like this could possibly be a Schedule C activity so keep self employment tax in mind.

Personally I wouldn't feel comfortable trying to wholesale a relatives $1M home knowing that I am breaking the law if I cross over into doing anything that can be considered representing them in the transaction, and knowing it will only be marketed to people who buy properties wholesale (typically investors who don't want to pay retail prices), instead of the majority of retail buyers active in the market who are typcially willing to pay more. 

We are actively managing two fund offerings, one focusing on real property (REO and off market properties), the other focusing on Pre-REO (vacant first mortgages).

A lease will not guarantee that your tenant will pay rent.The more active and proactive you are, the better everything will go. 

I'm not sure why one would choose to make an (active) investment that is break-even, when there are other (passive) opportunities for RE ownership that can produce cash flows - i.e. private equity/syndications. 

So, a company like HomeRoom will replace my agent and property mgmt solution that I use today and allow me to more comfortably expand into various cities without building the infrastructure on my own dime.So far I have been very impressed with Johnny and HomeRoom and actively trying to figure out where/when I will pull the trigger.