Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Because the owners of Licensing Experts pay ALL CASH, the closing usually occurs 3-6 weeks, which is very fast compared to traditionally financed commercial deals I've seen on Bigger Pockets.The whole thing hinges on their very clever technique of getting existing commercial retail tenants engaged, willing to move into their newly acquired properties who are coming up for a lease renewal or lease expiration, rather than marketing for new commercial tenants - which would take way too long.Licensing Experts is somewhat of a "front" for their Mentorship Platform, as they evidently have many of their own separate entities for which they use to actually purchase and close on their commercial properties assigned by their mentees. 

And right now they're both on the lease. 

The great thing about living in a high cost of living area is that your salary / wages are hopefully also very high.If you are a new college grad, I would focus the next 1-3 years on increasing your salary as much as possible(gain new skills, new certifications, change employers, etc).Once you make more money, you can easily get in a position to buy a property on a more frequent basis.Best of luck!

Does the condo have STR restrictions (some only allow one-year leases)?

Park owners always own the land, sometimes they will own the homes and rent/lease them to tenants.

How long are the leases?

I would hire out a leasing agent and work a bonus structure in that allows for them to exceed the 5% given they beat my planned vacancy number. 

It is not an easy thing to run a property when your customers are horrible haha.I recommend student housing with 9 or 10 months lease and run STR during the summer for this property while students are on vacation.

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