For example, an agent would collect a reduced commission, flat transaction fee, or no commission if the buyer sources an off-market deal directly.In your case, if you'd like to compensate your agent, you can include it in the loan.

Further, how can you enforce collections if you're not a utility?

Meeting that 2 in 5 of the last requirement allows a single owner to shield $250k of appreciation and a married couple to shield $500k.Unless you predict a lot of income from the MTR or you feel that there is a lot of appreciation incoming over the next three years (minus time get the property sold), you may want to consider collecting your $100k (passing GO) and redeploying that money to whatever you feel is its best use. 

We expect to continue to acquire properties as a group.At the moment, I've been collecting recommendations on suitable attorneys. 

You collected 60 months of rent while only investing $2,500.

How much time should I realistically allot for application/background checks, walkthrough, paperwork return, deposit and first rent collection? 

With a full time job even 15 units gets tough between collecting rent keeping repairs up, preventative maintenance, looking for new deals, managing refinances, etc. 

That gives them plenty of time to collect and transfer everything to you.

Starting small and scaling up is a tried-and-true path, and this community is filled with people who’ve walked that road and are eager to share their experiences.Feel free to ask questions, share your wins (and challenges), and tap into the collective knowledge here.

If there is no HOA because it has been family run, it will be dicey, but generally if it is a private road, all those on the road are collectively responsible for maintenance and improvements.