It's a good rule of thumb to follow mate.We always get caught up on the potential of a deal or business and don't focus on a "worst case" scenario.Experience has taught me to become a "Negative Nancy" first and evaluate the downside from a risk assessment standpoint.I would always get too carried away and am optimistic and easily influenced to believe in the best in people and ventures.Only to get my A$$ handed to me on a plate.Well not anymore... lol

They have below average management fees and have been in the business for decades. 

Hey Karen, A misconception about the real estate professional status (REPS) is that you can be in a real property trade or business (in your case, broker) and still qualify.

I suggest you listen to free podcasts on land wholesaling, build a business plan, and then work it (Wholesaling Inc is a great one).  

I am a realtor based out of Cleveland, OH and I have a client who is looking to lease a commercial space for his business.

For example, if you dedicate enough time to real estate businesses and real property trades, you may qualify for the real estate professional tax status which is potentially a great way to reduce high W2 taxes. 

Hello All,I am Sonni Harvin and the title is who I am from a business perspective. 

I see former players from the 2000's coming back to the industry under different business names, and some of their prior work was less than stellar.

I will keep that in mind as I develop my business plan and team.  

Josh,Typically when you set up your LLC you need to establish your EIN Tax ID and open up a Business checking account.