If I terminate property manager lease for existing PM for rented unit then I end up paying whole year commission of about 1500$. 

tough one.. generally you have a captain and then crew.where I have seen this work is through an earn in situation.

I will say though if this is your only option and you're confident in finding a deal below market value, then it might be worth it.  

However, if you're unable financially to purchase a new home without selling your current home then the choice is made for you.

As long as your purchase, rehab and closing costs fall below 70% ARV then you won't have to bring any cash to close. 

My mother originally agreed for me to refi some money out of the equity of a house we co own but then she changed my mind after I signed the contract on the guesthouse.  

Or, are you saying you want someone else to do all the work then white glove deliver it on a silver platter? 

My inspector emails me the report and then I dive in and do the heavy reading.

That was what I thought I would do again, but then I came across this deal.

If the zoning map was altered where all 2-4 units were now RT-4 then developers couldn't just tear them down to make SFH and building owners wouldn't need to fight the city to increase density.