The town may insist that you upgrade the entire building to meet commercial building codes.

From the way he was talking he was insistent on making sure it was a good deal for me that way I can profit from it.

With all due respect, you seem to be either insistent or oblivious.

Real estate can be very location specific, so you already have an advantage in understanding where the better areas/neighborhoods are, the questionable or bad parts of town, you can also visit a property (no plane needed) if the seller insists on signing in person, etc.The only reason to initially consider out of state wholesaling is if you live in a megacity such as Los Angeles or New York City where wholesaling is a lot more complicated.I started off in my own backyard and have since moved into different cities within my state (Texas).

If you insist on using Zelle.

You just want their rent on time.If the insist on this then you might want to modify your lease.

adding to what Derek said; the other 'downside' as an agent is that many sellers will insist that since property is not 'sold' until lease option is expired, therefore the commission to the agent must be paid at 5% x the monthly payments - a long term nightmare that gets worse on default about 3 years down the line Bob Cash

Short answer: Our attorney insisted we use a Warranty Deed when transferring our properties over to our LLC.

Thus I can see a PM with this fee structure insisting on a contract breakage fee (a % of the remaining term), and I would not object to that.

I insisted to take a look of this property because I was curious on why the location of this property is almost out of state boundary.