You might need a business license in addition to a real estate license to manage this type of property.Vacation rentals is a well established field.

In addition to all those counter offer and addendum, will they send us anything if we accepted and signed all the addendum?

So, I thought it might be a good idea, rather than getting "fat and happy" to mitigate my risk and hunt for additional opportunities.

If it does not work having a license will not change much.Do people walk through mine fields without harm?

You will need some additional cash over the 70% you can get from a hard money lender.If you do a deal under these terms where rehab plus purchase is 85% of ARV, you will lose money.

In addition i would like to do a rehab to rent or flip this year.

Paying off my mortgage or leverage the equity to purhase additional property or both?

Worst case scenario, that gives you an additional 6 months of occupancy.

Increasing the rentsIncreasing the laundry incomeAdding a pop machineLowering the vacancy rateLowering the expensesConverting a storage area to an additional suiteUptrend marketMay all instantly increase the value / price of a commercial apartment building allowing a refinance or 2nd mortgage to pull cash out.Thats the power of commercial real estate!!!

They will not accept less than a few points off of what they feel the property is worth minus additional costs for closing, commissions, potential taxes, damages to the property, etc.What you want is to "buy short" or buy into a home that has plenty of equity.