Each has their own specific requirements and exclusions.  

Depending on the size of their estate when they pass, they will have a lifetime exclusion that will be much more than the market value of the house and they would not have to pay gift taxes on the home.

That is exclusive of any appliances which have a different depreciation rate.

The tax itself typically does not add up to much, and your IRA will still very much receive the benefits of leverage such as higher cash-on-cash return.When you take a mortgage on a property, the income received from that property is subject to UDFI taxation.If you purchased property A using a mortgage, then a percentage of the income received from property A is subject to UDFI taxation.If you purchased property A using all cash, and then pulled some of the equity from that property in the form of a non-recourse loan and applied that to the purchase of property B, the income from property A is taxed under UDFI, since that is where the debt-financing is applied.If you have the ability to pull equity out of an IRA owned property, that can be invested in any manner you choose, so long as it is exclusively for the benefit of the IRA.  

If your agent isn't providing comps, they are missing out on an important way to add value.An agent in Florida can absolutely ask for a non-refundable fee... it's in the FAR approved Exclusive Buyer Brokerage Agreement.Agents should be choosy about what investors they work with.

Buy this one after the first one above.From FNMA, "Second Home Requirements"...must be occupied by the borrower for some portion of the yearis restricted to one-unit dwellingsmust be suitable for year-round occupancythe borrower must have exclusive control over the propertymust not be rental property or a timeshare arrangement 1cannot be subject to any agreements that give a management firm control over the occupancy of the property1 If the lender identifies rental income from the property, the loan is eligible for delivery as a second home as long as the income is not used for qualifying purposes, and all other requirements for second homes are met (including the occupancy requirement above).See that little footnote there, the "1"?

As long as you did not sign an exclusive agreement, you're free to seek another agent.

I didn't know who to ask and I didn't want to lock myself into a long-term exclusive agreement.  

Most likely an exclusive agreement, so even if the seller finds their own buyer, the agent will still get paid their negotiated fee.

There are two tests for the home office deduction that must be met.1) Regular and exclusive use (by the business) 2) It must be your principal place of business.These two tests have a whole host of other considerations involved as well.