So this action is normal.The other concept that I want you to be an expert in is the refinance rules for an investment property.  

There are many pros, but two cons that seem most prominent in my mind of the bat: 1) getting a license doesn't make you an expert out of the gate, even with MLS - an experienced real estate agent can guide you into an emerging market that you might not know about vs. an obvious, saturated market, for example, or explain why a comp only .2 miles away is actually no good for your prospective purchase, among other things 2) if any litigation were to arise in your r.e. business, having a license will almost undoubtedly mean you are held to a higher standard, probably with respect to any aspect of the deal. 

I'm not an expert but this sounds like an attorney that screwed up and is now trying to bully their way back into the game to save face and a client.

Also always request a price up front, and make sure they are real estate experts, and preferably own investment real estate themselves,  You might want to listen my interview on podcast #168, we touch on some tax planning topics, while I'm not taking on any new clients if you private message me I can give you some referrals.Hope this helps good luck!

@Diane Kruse Always hire someone who is an expert in Real Estate, and preferably owns investment property themselves, and someone with some letters behind their name.  

Anyways just my 2 cents, I’m certainly not an expert by any means, would be interested to hear what others have to say…BTW there is a great article somewhere on BP by Ben L that talks about this subject (how cheap properties get killed by capex), it's a good read.

@Sam Ingallina I am not an expert on auctions by any means, but I would definitely get some type of counsel before buying a house at auction.  

@Tandi Hufnagel I'm by no means an expert on the topic, but I'd be happy to put you in touch with my contact that focuses on this.Your situation and plan sounds ideal for this strategy, as it's meant to provide annual income by disposing of appreciated property in later years. 

Become an expert at self-directed 401Ks or self-directed IRAs.

You can always add extra umbrella personal liability policy on top as added protection.I'm not an expert on insurance (so ask your insurance agent) but this worked for me.