You didnt cancel in the appropriate amount of time.

The deciding factors in which strategy we use are determined by what the homeowner is open to doing, what am I looking to do, and of course the numbers in the deal and what do they suggest is an appropriate approach.Regarding your questions:1)  I'm not opposed to remaining in the middle of a deal. 

Hello, when is considered an appropriate time to open an LLC for your rental property portfolio?

You may also to be able to go after damages like environmental damage, rehabilitation of the property, etc.

I'd be surprised though to find the purchase price, after maybe 6-12 months, affecting an appraisal with appropriate comps.The answer to the bank's question as to why I paid significantly lower than market value for an off-market property seems easily answered and is a common enough practice.

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?