My partner is based in Central Jersey and we are looking for a property manager to help manage day-to-day operations as we aren’t super close to the building.

Yes in theory you can wholesale off the MLS but in today's competitive market it is not a very effective strategy.  

By which I mean there will be free national websites for commercial  like Zillow or Trulia where you can see everything people are offering for sale and what they're asking, Sort of like CREXI or Loopnet or the one that was sued out of existence but more complete and comprehensive.But I don't think that will stop the 'pocket listing' process because that happens today in residential with really sought after properties.Nor do I think it will diminish the value of a really good commercial broker.When Zillow/Trulia/Redfin all came out people predicted all of the RE agents would lose their jobs and no one would ever pay a real estate commission again.

Today, I get a casual email stating the tenant called the emergency line over the weekend to report the water heater had burst and water was leaking through the ceiling.

I actually just joined today after listening to an audiobook called Rental Property Investing by Brandon Turner.

I just spent several hours today correcting a few very incorrect tax returns prepared by CPAs who advertise their services here.

I wrote an offer yesterday, and today the seller countered.  

The guy that rents the garage does not live in the apartment upstairs, he texted me today and was really upset that mold was on his belongings (wood chairs, tools, bedroom furniture, etc).   

If the loan is 4-5 years old, the current rate might be 3.5 - 3.75%, while the new refinanced rate may be more like 5.5%.Also, I am not a mortgage expert, but a cash out refi is a recourse loan I believe, not sure where all that is exactly today, but definitely something you should check FIRST. 

We want to build equity first before transitioning to a cash flow model down the line.ARV is about $245-250k as of today so about ~30k equity netted in this deal.