You should be prepared to establish clear boundaries and maintain them with any tenants. 

There’s my answer :-)Thank you guys for helping me get clear on this. 

Either pay them a flat fee for each estimate, or partner with them on deals and cut them in once you sell it.

This is clearly specific facts and circumstances based but I’m curious to know whether based on historical returns you would have decided on a go vs. no go on a property when you were on the fence due to these variable assumptions such as repairs and capex and your historical experience is tipping toward a lower % than the assumptions being used when analyzing.

I currently own 3 properties free and clear in Miami-Dade county.

Longview is 40 minutes north of Portland, OR ,and values here are rising quickly due to Portland's crazy real estate bubble....Here are the logistics:Original purchase price: $135,000Outstanding balance: $131,000Estimated current value: $200,000Mortgage payment: $950Current Estimated income from renting both units: $1700Property management cut: 8%If I sell the unit, I would try to reinvest the earnings into another duplex property in Dallas, TXI'm looking for some advice....

Clearly I have no idea, so anyone who does would be much appreciated :)

Clear you debt before you start GAMBLING on investing money you do not have.

@Michael ClayWorking with your attorney you will most likely need the following:1) Loan Agreement2) Promissory note (if lending to a LLC)3) Personal Guarantee (if you require one)4) Mortgage / Deed of Trust (depending on local laws)One important point is to ensure the property has a clear title (title company will do this, but ensure you have proof before wiring money).

From what I heard from land-lords it's fairly effective at it's job and easy to use.All of this to cut my teeth on basic property management and having a close eye on the surrounding areas.