If I'm in your shoes I would use this as an opportunity to set the tone with the tenant about how you operate as a landlord! 

These rules, which include a requirement that sellers set aside a portion of the purchase price for buyer-agent commissions, prohibitions on modifying the commission, and permission to filter listings by commission, all enable NAR, its co-defendants, and its members to maintain buyer-agent commissions at supra-competitive levels unrelated to brokers’ experience or the services provided, steer home buyers away from lower commission homes, and drive out discounters—among other harms."

I have a great set of resources around me willing to jump in on rehab quotes and work.

It's awesome that you're taking charge of your financial literacy and setting an example for your sons.

Are you cash, do you have crews set up, do you know how to determine the reno and arv? 

I set up a REI company and set aside some cash, but would not be able to do an all cash deal to start.My concerns are two part:1.

That includes the mortgage, the insurance, if there is any electricity the landlord is responsible for, if the landlord is responsible for any of the water and sewer, not all of those bills might be every month, some might be quarterly or twice a year like the insurance, and a small percentage set aside each month for vacancies, maintenance, and eventual capital repairs.

We are looking for a firm that is familiar with multi state partnerships that can give us legal advice or set up our business correctly from the start.

do you have a team set up?

We are set to close on our first condotel in MB on Monday.