In addition, you will need to collect sales tax/occupancy tax, if you do not and get caught, you'll be responsible for the tax. 

I specialize in homes going into foreclosure and short sales.

In New Jersey you cannot become a broker until you've been a full time sales agent for at least 3 years.  

I had a real estate broker license for about 30 years but I never did that full time.Always remember to do the math analysis on your prospects and try to look at them before you make an offer or at least have a clause in the sales contract that allows you the time (usually about 15 days) to make a detailed inspection of the subject property and possibly back out of the deal without a penalty that will excessively hurt you.There is so much to say to you but I am bound to forget something.  

You can judge how long it took them by looking at when they purchased the property vs. when it was listed for sale. 

I would like to take the profits from the sale and purchase another property.

I just found that a ground rent owner is required to sell to a property owner and that the sale price is set by law. 

(Example: duplexes for sale in PG for almost 1/2 a million!!) 

I found a place e that could really be a good power move for me. It looks to be abandoned. I checked and its owned by a local guy that  I know indirectly.  I need info on how to properly approach him with an offer. Th...

I have been involved in releasing government liens on many occasions to complete sales but this scenario is outside of my wheel house.