We have some local attorneys that can perform this role, but I am worried they'll run the meter and provide poor value to investors in a workout situation.  

The eventual goal for this complex would be at least 240 units, some 1-br and others 2-br, and few 3-br.

Ok, now that I have your attention: I'm a brand new beginner, I've been reading some books, listening to the BP podcast, and researching housing data and listings for a while now.

Hello everyone, I just purchased a brand new home that will be a rental property in Las Vegas.

Hi BPers,I'm a brand new investor from Philadelphia who wants to start getting into real estate (after learning the necessary basics of course).  

It's non-performing.

If the answer is yes to any of 3a, ummm, houston, you may have a problem.You seem like you are the more experienced (senior) investor in this venture and maybe they are brand spanking new.

BPO can be hundreds into the thousands.Example evaluating a NNN single building is way different than having to evaluate a current value and comps for a brand new retail project in development process with multiple buildings.If you are looking at buying the property yourself you could pay the fee upfront but then get a credit at closing from the broker off of their commission amount if they agree to it.Back in 2009 and 2010 markets were frozen.

The brand new homes are offerred at merely $20k above this property's listed price, and the property has been on the market for a year, with no takers.

For a prime location, and with a "name brand" brokerage (in NYC - Elliman, Corcoran, etc.), that's normal.I have properties in various parts of NYC and depending on the area and the firm I use I end up with one of three scenarios:-1 month fee, landlord pays: up and coming areas of town (eg; Bushwick, Bed-Stuy a few years ago)-1 month fee, tenant pays: lower end/mass market brokerage firms, use this option for "run of the mill" properties-15% fee, tenant pays: higher end/"name brand" brokerage firms, regardless of specific area.