Also, try to work with private or local lenders who understand your projects and can offer flexible terms.

I’d recommend looking for an agent who really understands investor goals, not just retail buyers.

Looking to understand different perspectives.

hi @Becca F.Yes, the language you posted is reasonable, but you should negotiate a written understanding about what happens if the seller pays nothing — because that is happening more post-settlement.And you are absolutely correct: paying 3% on a $400–500k property ($12–15k) is a huge out-of-pocket if you aren’t clear on how to offset it with seller credits or a capped fee.

Can anyone help understand what a property manager that is not licensed as a real estate broker or real estate salesperson can and cannot do? 

My work focused on sourcing, underwriting, and structuring both equity and credit deals for single-family rental and build-for-rent communities.That experience gave me a deep understanding of how lending drives every part of a deal, from builder capital needs to investor returns.

But at the end of the day, the biggest alignment will come from having real money in the deal.I understand the point of an acquisition fee. 

I've been reading through posts, absorbing what I can, and trying to understand this world I'm stepping into.I'm currently based in New York, which is the market I'm most familiar with, though I don't own any property yet.

As I understand, there are several things you can do with vacant land and infill lots and how you can partner with builders.

It seems that the drawback to this neighborhood is always that it's close in proximity to "bad" neighborhoods such as Middle East, but it's my understanding that Middle East will largely be redeveloped in the coming years.