My question, if any expert can please help; is if the General partners are not bringing any dollar to the down payment, is it reasonable for them to charge property management fees of 5% as long as they run the property and is it also ok for the other general partner to collect Realtor fees at the end when property sale occurs taking 3% of sale price. 

It may not turn up anything but it could be worth the cost if it occurs again.  

Getting started so far has been intimidating, and it would sure help me alot to be guided in the right direction by experienced folks.I would love meet up for one of these outdoor events in the next couple months, or just get a cup of coffee will work. :)My specific interests are Short Term Rentals and House Hacking.I look forward to seeing what is out there for me!

In the event the tenant refuses to vacate, the legal protection that a signed lease gives a landlord does guarantee the tenant will eventually be forced out but not without a painful, lengthy eviction process.I have lived through a tenant not vacating and it is a nightmare but what I learned from that experience is that it is best to avoid the circumstances leading up to a refusal to vacate. 

I want both, or no deal.Depending on future events you have no control over, like this property, isn't investing...it's speculating. 

The asset type I would pursue would be a heavy cash position so I can buy deals at a discount in the event of a crash.

Real Estate Training events, where they give a discount for a spouse or allow them to come at no charge, is definitely a way to begin to get on the same page. 

Sorry to hear that you will be leaving the great state of NJ, but while you are still here, another BP member and myself host monthly meetups (check the events page and/or message me if you're interested).

Andy Mirza’s reference to Platinum brought to mind that there is a Platinum level; they receive a level of recognition at Eddie’s Note Expo events. 

Tenant shall be liable for double the Monthly Rent in the event thatTenant retains possession of all or any part of the Premises after the Ending Date of thisLease.