If your managing your own properties that you have a clear ownership interest in .. no licesne requiredif your managing properties for your clients IE collecting rent.. negoatiating leases etc.. then yes you need a brokers license with a PM component.. and you would have to work for a broker for 2 years then sit for your principal broker exam pass that and the property manager component..does not matter resi or commercial.. reason is your handling lots of money for investors and or negotiating contracts state wants those folks to be licensed and accountable. 

If you determine the cost of each major component and divide by their expected lives and then add them all up, you’re likely going to get much more than $360 a year.

Most are short on training, and certainly experience, for the last two components.

I also handled all the paperwork including tax, insurance, etc.The condo was in fair shape, but many of its components were dated.

Hello BP Friends, Can anyone give me 2-3 recommendations of the best property management companies for Class C apartments  in dfw 50-100 units with a value add component..

The 1031 does let you use it.But there's an additional component that is also at the core of a 1031 investor's strategy - leverage. 

You want to know the current condition of all major components and appliances.  

These deals are in the Metro Charlotte area, and have value add components as well to force appreciation.

If they're not, it's a long and involved (and expensive) process.Most often, the larger parcels will be developed into graded lots by one of the regional development companies, then sold to regional builders to construct and sell the finished homes (and potential commercial components).Smaller developers (like myself) can take on the smaller parcels (say, 10's of acres) that are too small for the regional companies to touch - there's an opportunity for your client to partner there and capture more of the profit stack if s/he's interested.Regardless, there's plenty of brokers who work in the space and broker between land owners and developers for owners who aren't familiar with the business. 

@Paul Yousef The benefit of cost seg is dependent on the amount of '5-year' property (i.e. non-structural components in the building) that can be identified, 'segregated', and accelerated.