They do not get paid until a successful transaction is completed.The "6%" you are talking about usually gets split between your agent's broker and the broker whose agent brings you a buyer as an incentive for the buyer to purchase your property (because they owe a commission too and may not be able to afford your property if they have to pay it themselves). 

where do they usually stay?

12 months minimum usually, you must show intent to live in the home.

The best numbers here are usually on value add deals but depending on your build costs new construction may be an attractive option. 

No one can answer that because the first question all depends on how your basement is set up with agree (windows, doors, access) and what your town's regulations for legalizing a basement unit (usually way harder than anyone thinks).When you say join a JV, it would depend on your relationship and the asset and the split.

The best option is to have a direct booking site and collect past guest emails etc using a data collection system like “Emailcollect” and remarket to them making 10-15% extra revenue because you have no booking fees.

Nailing down your resale value (ARV) and your rehab costs as best as you can, will usually always keep you out of trouble.4.

My investors usually close within a month but recently had someone doing a short sale so the process took two months just for them to agree on the sale amount with the bank.

Usually, the states follow pretty closely.Hope this helps. 

Because investing in real estate in general seems to offer more of an advantage than just stockpiling extra money from our W2 job into a high yield savings account.