Can you handle those for a year at least?.

I used to work international contracts on them quite a bit so learned a lot about how you guys need to handle it all, and I still buy turnkeys for myself.

Just make sure you can handle being in business with friends and it doesn't ruin the relationship.

I know real estate is highly regulated and I don't want to end up in trouble for practicing RE without a license, as happened here:  http://www.biggerpockets.com/forums/93/topics/1847...What sort of deal would be reasonable to propose to the real estate agent handling the sale, or to the owner?

How do I handle taxes then?

Lots of ways you can handle this one)Comments (Use this to communicate status of the various tasks.)Project Management mantra...plan your work and work your plan.Every task that takes more than 4-hours or must be completed before something else can be done, should be listed in your project plan.  

I don't know what is the rule ; presently for my two other houses in Georgia I found an insurer who didn't ask me any social security #, but it is expensive.Has someone an idea of an insurer who could handle my situation ?

I haven't made it to this stage yet, but understand the importance of the salesmanship skills required to handle these types of Sellers.

I've got a good handle on zoning, building codes.

This could turn out really bad for you if you do not move quickly to get a handle on it.