It wouldn't hurt to take the courses to gain knowledge, but other than that, no.You also don't need a General Contrs license to run your fixer projects, you can do it as an Owner/Builder.FWIW, I've had both...Of course if you want to be a professional Realtor or Contractor, you should get the appropriate license....

@Curtis Naugle it's your property, set the age limit you feel is appropriate.

If they are on a month-to-month lease, then you can give them the appropriate notice, move them out, and do what you want.

While major decisions after the purchase may be appropriate and fair to give members a vote, or even the ability to veto certain actions like a sale, once the decision has been made it's the responsibility of the managing member (assuming you are using an LLC that is managed by a manager and not by members) to carry out the business plan.

In this case, how much percentage is appropriate for commission as my agent doesn't now have to do all the work associated with listing/marketing/showing? 

Thank you Theresa,I think I get the jist of the reply in that problem tenants need to be dealt with appropriately which may be one warning and then greater action on a repeat offense. 

Market fundamentals are pretty good, but investment opportunities, not so much.Multifamily got severely overbought for the last couple of years, compressing cap rates down…appropriate for that moment when rent growth was double digits and interest rates were nearly nothing.  

If it’s a rental you should have switched the insurance from owner occupied to landlord policy and you should make sure you marked the appropriate box on your property tax form from the county to pay the higher taxes of non-owner occupied if appropriate. 

I'm not sure if I had a whole nest of LLCs that getting one per entity is appropriate.  

I think the balance of your questions depends on whether you have sufficient capital to complete the rehabilitation all at once, or do you need to get the cash flow started to offset your expenses.