I'm assuming there are some administrative charges added.I also understand that you have to do some preliminary title research yourself prior to the sale to ensure you're not bidding on a second mortgage or their are title issues.Is there an order the properties are auctioned off?

I also found he had added a unapproved roommate; this guy made HIS living selling drugs out of my house. 

@Tom Smith Although I agree, REI is a great suggestion for the potential returns and tax benefits, the hidden fees you mention aren't necessarily a 401k problem, but the a downside of certain 401k administrators and custodians that unnecessarily limit participants in their plans.

I won't go on with the novel, but he are some other red flags: 1) When I showed up to the acquisition manager's house, his wife was running late as she was coming from two eviction hearings at court that morning. 2) At one point on the tour, a young man dressed in stereotypical ghetto ware approached both the PM and Myself in front of a house (I wasn't sure if he was going to try and sell us drugs or what) and said that we didn't look like we belonged in the neighborhood and "are you guys investors?".

I have video's of bugs, reported everything from the bugs to drug needles in the kids playground, and can prove there was a murder across the street just off the property.

Naturally, we charge a higher rent ($450 - $500/month) when renting by the room than if we let an entire house on a single lease ($360 - $425 per room per month): since we are carrying the utilities, have more administrative overhead and have to deal with housemate drama.

A quick question on entity structure and insurance: As I'm planning on investing in multiple properties over the long-term, I'm considering forming a series LLC in Texas, which has several benefits in terms of administrative cost reduction (relative to having an LLC per property).  

Is it also usual to be charged 10% of the monthly rental plus an administration & management fee initially and then a balance of $300 for any maintenance or emergency repairs.There is no indication of when the rent is passed on to the landlord, whether this is monthly, quarterly or annually I'm not sure.Any advice on your experience with PM's would be much appreciated as well as any recommendations for good PM companies in the Tampa area.

I have access to 2 administration staff 7 days a week.

I have really two main questions: During a probate/estate sale where the decedent dies intestate and there are two co-administrators named on the estate, along with a guardian, when do the co-administrator's have the ability to enter into a contract agreement with a willing and able buyer?