I recently reviewed a buyer's agreement which stated 3% on gross selling price, plus $695 flat fee in addition to percentage, for services provided. 

If you have any additional questions or concerns, please don't hesitate to reach out to us."

Many lenders will charge additional rate increase if loan is under $150K.

If the Tenant’s visitors stay outside of the 14 days; Tenant will be charged an additional $50 every 14 days that the Tenant’s guests are staying in the unit.Is this legal for me to do this?

Additionally, consider consulting with legal and financial advisors to solidify your agreement and protect everyone involved.

As someone else mentioned there will also be additional expenses when you bring on a property management company.

@David Stokley and @John Underwoodeither of you have insight on Mountain Rest Lake?

We have great +750 credit scores, a +6 month emergency fund, money set aside for the down payment (both emergency fund and down payment are cash sitting in a high yield savings and rolling 4 wk treasury) in addition to a taxable brokerage account I have built throughout the years in the event we need to leverage it for a pledge asset line.

Thanks so much for the insight, I’m highly interested in attending some events.

Additionally, acquaint yourself with New Jersey's security deposit regulations and be prompt in addressing maintenance issues, possibly with the help of a local handyman.