@Paul Sandhu There are normally 2 Realtors in a transaction-  listing agent works for the seller, a buyer's agent works for the buyer.

So, until you gain more experience/transactions (licensed or not) you may not be doing yourself justice by representing yourself.Otherwise, yes if you can afford the ~$2k to maybe $3k in annual dues and fees, there can be a benefit to it. 

Again, your attorney (experienced in REI, not just a RE transaction attorney) is your best advisor.If all of your partners are both investors and GPs, then a JV should be sufficient.Money spent on professional advisors, whether attorneys, CPAs, etc. is well spent and will improve your returns and reduce potential headaches in the future.It also looks like you have a bridge loan on this property which, given this market, could be an issue at year 3. 

If that’s the case, and you can turn this thought into a reality one day that extra $400 a month won’t cross your mind (after you refi).

I suppose if you are that good in sales and have a market to get $1mil transactions, sure...You have to separate truth from reality...

Has anyone found any creative ways to handle closing costs if 1) you do not have the money to cover it or 2) do not want to come out of pocket to handle these costs associated with the transaction?

This is the road map of your transaction. 

Read section 21 of the CA Residential Purchase Agreement (assuming you transacting on this document).I've not been through mediation or arbitration myself, but if the buyer removed all contingencies when he submitted the offer, then cancelled, AND you suffered actual damages (a subsequently reduced sale price), your case seems pretty iron-clad to me.I believe you can enter mediation and arbitration without a lawyer, so I say go for it!

So you would include a "contemporaneous closing" requirement in each contract... tying the two transactions together with respect to timing.

Being from a title state brings some comfort to my transactions.