However, if you do have that amount of maintenance/repairs required then you are prepared to accommodate them with little effect on your Cash Flow projection.

@Ely SantiagoI'm not 100 percent sure what you mean here, but if the private lender wants a first-lien mortgage, the private lender should hire an attorney to prepare, execute, and record the mortgage.

After the rehab the place was looking pretty nice so I decided to ask for $1200 in rent and prepare myself to lower it if I didn't get any interest.

If they spray under the house be prepared to have a hard time with your tenants. 

We've had the shop prepare a stain match to the cabinets.

I am a tax professional and prepare my own return.  

I do not have two many assets, but would like to prepare for the future.

You could download the NY instructions for preparing your state tax return which most likely answers these questions.The real estate agent fee is whatever you agree to in your listing agreement.  

Ideally it is a passive investment for the most part but you need to be prepared financially/mentally for those hard times.

I was slightly tricked into attending a meeting, one which I avoided going to as I wasn’t in the mood or prepared for a sales pitch.