I am in Texas and all of these answers are based on Texas.1) you do not need a License to do PM if you Own the property.

What do you base me "probably" having an issue on?

During this period your attorney can cancel the contract for whatever reason as long as it is NOT based on purchase price. 3.

I chose Longmont because like you said Northern Colorado is a growing market but also because of all the nature around it.

This is not $120/ft material, which is how this is priced based on the $3,500 that was purportedly spent.

I am a 21 year old investor based out of Brooklyn, NY w/ two investments properties (payed off mortgage) that I manage and I have been pushing forward and researching and reading and learning as much as I I can about real estate.

This should be your own conclusions based on your underwriting, not someone else’s. 

If you do, you are missing out on most of the advantages, and rationalizing bad deals into good ones based on "%'s" instead of dollars. 

I have over 40% equity based on loan amount of $200K and general market value of the property at $400K (unsure what assessed value would be).I'm thinking I'm a candidate for PMI removal.

The tax treatment of your land sales would typically be determined based on when each parcel was sold and whether they were held for investment or business purposes.