A salesperson is an extension of the broker so a salesperson could conduct management activities in the name of the brokerage but could not do it exclusive of the Broker.  

At any rate, if this is how they conduct business, it is still worth it to take advantage of the good activity you get to begin with to jump start the business.  

Do you conduct a background check on the business or the tenants occupying the property?

How does everyone conduct their credit and background checks on potential renters?

I have heard Wyoming is a good state, but then i run into an issue of conducting business in Idaho, having an llc in Wyoming and residing in CA.

We will be conducting two open houses on 5/12 from 8:30am to 10:30am and from 4:30 to 6:00pm.

At what level do they need your approval to conduct repairs (i.e. if something is going to cost over $200.00 do they call you first).3.

@Manolo D. the way you structure your entities and what services are conducted are critical to how things get interpreted.

CalculationThe main calculation itself is pretty straight forward:Buy-out Cost = 0.5*(FMV-Mortgage)This would take into consideration any built-up equity over time.FMV would be determined from 1 or 2 appraisals OR how much similar units are selling for (if it's a condo being sold).Costs Associated with SellingFor a portion of the cost associated with selling the property (Legal/Bank Fees/Realtor Fees), I've tried to search around and gathered the following FOR/AGAINST arguments for including such fees:FOR including the fees:There should be a 'penalty' for pulling out of a long-term partnership.If the surviving partner sells at some point, he takes the whole portion of the cost himself.AGAINST including the fees:The surviving partner has the option to conduct a For Sale By Owner, or use services such as ComFree, in which case no major realtor percentage fee would be paid.The surviving partner may choose to never sell.The surviving partner would still have a cash-flowing asset that is likely to appreciate.Based off these arguments, I think what might be fair is the normal Buy-out Cost calculation, minus a nominal percentage.

Important to note, in all of the 10,000+ studies my company has conducted, there have been a handful of clients who have been audited (for other reasons) and ALL of our studies have been no-change."