If you talk to your insurance broker, they will likely be able to tell you the difference. 

Broker's perspective.

This is adjusted for growth to avoid existing owners getting massively higher tax bills YoY (again, in theory)FL = disclosure state i.e. tax % * price you paidSome other states = limit growth by a certain %Best bet: consult the local tax assessor's office and/or your broker.

Always a good idea to at least have a lawyer go over it to ensure you're covering all your bases.Purchase and Sale Agreement - This would come from the real estate broker you are dealing with.Lien Waiver - I cannot speak for CA, but I know that in FL there are very specific wordings (only about two sentences) that are provided by the Florida Statues that everyone can use for simplicity.There are many different types of contracts involved but these are the first three that came to my mind.

It must be live or by videos in real estate brokers instructors office and the broker, the instructor must be present.

He has a broker renting the place for him.

If I could start over again, I would recommend finding a property manager who is a prolific investor as well and pester them until they gave me a job.I would definitely get my real estate license and I would practice property management.I would then focus my week with these proportions:50% Making an income as a property manager25% Meeting with power partners (people you want to partner with, investors, property owners, mortgage brokers, real estate agents, contractors, etc) with the goal to find an investor who wants to put up the cash to participate in real estate deals with you.25% Searching for, analyzing deals, and purchasing deals (you can share these deals with your power partners).After a while, you can quit your property management job and then focus on being an investor.

You don't need a broker.. 

I'm a broker with an investing background. 

I have an estate property in East Flat Bush which I am interviewing and hiring a real estate broker to list and sell for the estate attorney.The property needs updating.