If you don't know how deep the water is, you may get more than just your "feet wet".Third Lesson.Cheap and discount are not the same thing. 

In CA a third party, escrow agent, generally holds the EDM, but at times, the FSBO wants to hold the EDM or is unaware of how to hold the EDM.

I understand I will need to pull a permit to add shower area in the third bathroom but would a permit be required for the three additional rooms, especially given I will not be adding any new sq ft to the property?

A contract is just an agreement between parties.

The gist of it is that when you dispose of your entire interest in a passive activity in a fully taxable (as opposed to a tax-deferred) transaction to a non-related party, i.e., selling a non-grouped rental property in a taxable sale to a non-related party, both current and suspended passive activity losses generated by that activity can be deducted. 

Especially the first part. I

For example, the third Tuesday evening each month at a casual, static location which could be indoors or outdoors and flex based on attendance.

@Anna PugolovkoI'm afraid you're way too late to the party.

Definitely a discount but I don't see a third or a half at all.

Milwaukee is the third most competitive market for tenants in the US.