I'm technically a newbie too, although I've been practicing law in this area for 13 years.

Knowing your education background helps.Are you okay with text only based instruction?

The skill set is pretty technical. 

You could also have them officially apply to you and do full background checks, and if anything comes up, kick them out on that grounds.

I've not always had an agent representing me.Given that, what are the pitfalls, if any, in this prospective deal if there's technically no selling agent involved and i don't bring an agent to the table representing me?

So I plan to rent the bottom unit and finish the attic and do some other improvement while I live upstairs.So there is a little background and here is my potential problems.

*note: first two paragraphs are a bit of background about me and my story, if you jump to the third you won't miss much and I won't be offended. :)My whole life I have known I was different than my classmates, and while my grades didn't struggle throughout middle and high school, my spirit sure did.

My name is Tony Speth and I currently have no background in real estate but taking a couple college courses and just recently re-enrolled back into college to continue working towards my realtors license and also my business degree.

Now you technically already own the place (after x years of course) and in some cases this is legal and others not so tread lightly but you can effectively fix up the property, increasing the value of the property, and turn around and sell a 2nd leasehold with option to buy but this time with a higher price then what your lease hold and option to buy is.

I don't have an inspector on my local flips but I have done this many times and have a background in construction and know costs to repair potential issues (knocking on wood here).