As no Buyer would list the property, and as many MLS's require more than equitable interest to be sufficient for an MLS listing, the danger of a "Net Listing" is ONLY if the Listing agent enters into an agency agreement in the first place. 

Louis is, if not the most liberal areas in Missouri it is one of most liberal, that means more consumer oriented courts, much more so than Springfield.There is nothing more dangerous than older real estate investors doing business as was done 20 or even 10 years ago, welcome to the 21st century, things have changed and many don't keep up.

Usually with 4 or fewer units a GRM (gross rent multiplier is used) and not a cap rate.

It does lessen the upside, but it also makes it significantly less likely that there is a danger of losing the home if a deal goes bad.

The formula is still mostly the same, but the opportunities are fewer.

Don't do anything that might create hidden dangers, like trying to pull your own electrical wiring or framing. 

you may also want to consider doing fewer transactions per year and acquire larger unit properties say 600k 12 unit instead of 10 60k. less transaction costs, you can hire property manager on your payroll. these will be commercial loans 5y ARM with 25y amortization.tax advantage of leverage comes from making taxable income after depreciation nearly zero. others have pointed to ability to purchase more. 

One of the reasons I harp on learning RE basics, knowing that will make you the expert in the room.Too much sizzle in RE can become illegal, unethical and just dangerous, it's called "fluffing" and/or "puffing" overstating facts, giving implications or misleading others.

Not only will this presumably attract more renters (or turn off fewer renters), but it will also set a good expectation for what you expect the tenant should maintain.  

It's a little neighborhood of 3/1's built in the 40's with next to no recent sales, and even fewer renovated sales.