Hello BP,I found a seller who wants to sell her home because she's having a difficult time maintaining the property by herself and making the mortgage payment.

I would tout the pool's positives, and mention how easy it is to maintain, and perhaps even gift a year of pool service with the sale.

They dont generate enough business to justify the amount of time it takes to maintain all of the sites and profiles.

PM still needs to be factored in to your valuation because if in the future you decide to hand it over to someone else to maintain, you want to know what your COC looks like. 

Depending on your business model it may be an excellent tool for you.Being an agent gives you the legal right to represent a third party in a transaction, and receive a commission for it.There are costs upfront to get the license, then an annual cost to maintain it.You must disclose that you are an Agent (not a big deal)Ethics are the same whether you are licensed or not. 

I spoke to the township's zoning official to confirm I can maintain the existing units within a single family zone,   ( i guess that's grandfathering, not that word was never mentioned during our brief conversation)    I am trying to contact construction official regarding limits or restriction on renovations/expansion. because of your advise, now I will make him aware that this is a non-conforming property  (glee-asking the correct questions can avoid a serious error later) I recall at one time,  California allowed one to demo all but one wall and the original foundation and it was still classified as a renovation, but this is NJ not CA  Another thing i am wrestling besides not losing this opportunity if I am too slow to act, is my exit strategies.  

i don't necessarily blacklist contractors for schedule failures ... i will use them again.the key is to maintain a reputation of setting clear expectations and then holding people accountable.  

@THANG BUI I know CA is a unique place, but without the cashflow of property 2, how would your mom maintain a 900k property and the debt service on 605k on a 50k income? 

I just put a very well maintained 4plex under contract for 91k.

Now compare the cost of a $3M liability policy to the cost of setting up and maintaining the LLC including filing fees, accounting fees, and don't forget about the higher interest rate you are paying on your mortgages.