Maybe pay for one if you have a defined scope for a specific strategy. 

I'd recommend actually looking at the top performing asset classes in your market. define the market you want to do.

This is really just defining who is actually representing who and should you be representing a buyer you have to fully disclose it (and quite possibly still write your commission into the deal as was done before anyhow). 

A market is defined by common properties, of the same size and type, within a specific area. 

Aloha Daniel, Can you define further the following: 1.

The responsibilities of the PM are defined in the agreement with the Board.

First: Define “good.”Second: Why would any owner want to leave money on the table, especially money sufficient enough to make a market deal a “good” deal for the buyer?

I’d say define your criteria for if you want to start smaller or immediately go larger and that will help dictate the types of strategies you need to employ. ie going it alone and buying smaller or needing to partner and go bigger.

However, I am looking for someone with more experience to confirm my understanding and to help me define what a "federally-backed mortgage" actually means.Sincerely,Alex Timberlake

When the actual owner on title lists a property he is only selling his interests in the property.When someone owns an equitable interest he is only selling his interests in the property, same thingLaws that don't specifically define owner don't mean all that much to me, I am the owner of what I"m selling.