It gives the brokerage firm the exclusive right to sell the property for an agreed-upon period of time, and a right to collect the agreed-upon commission if the listing firm, another firm, the seller or anyone else procures a ready, willing and able buyer during the term of the agreement."

He was trying to be nice and cut him a deal on the car but after it was sold, the minor damaged the vehicle and now his parents are threatening to sue on the grounds that a minor cannot enter into a contract but they helped him procure a loan for the said purchase.

Hey BP,New guy here from SoCal, looking to get into SFR/multifamily flips as well as procuring my first few rental properties.  

If they're not charged a flat, guaranteed rate, then your compensation is performance based...ie, a commission.The only number I truly gave is the $50 for leasing - Florida statutes state that a person not using their license, or an unlicensed individual can receive no more than $50 as compensation for tenant procurement - and the apartment industry breaks this law ALL the time with PM bonuses...trust me, you don't want to go down that road!

And these were only the ones that were procured on the MLS.At the same time, I wrote a short article on some of the same properties that I had been tracking.

A good number of my investment deals are procured off-MLS, direct to the seller or through wholesalers.

If operating through an LLC, do you think I would be able to procure a small business loan to serve as a down payment on a rental property?

I'm just looking for assistance or recommended contacts for help with procuring property hazard and liability insurance for properties that are in less than perfect condition...Does anyone know of any insurance companies or brokers that can issue insurance on properties which are being purchased through an LLC (with a commercial loan) which are in need of moderate rehab? 

Its a price negotiated between the broker and seller to procure a buyer for the property.So if you are looking for the best representation, I would suggest securing a buyers agent.

I feel that it is a very important skill to be able to analyze deals before even making the next step into procuring financing.