I will be meeting with someone who has a 12-unit apt building and 4 homes they may want to sell. I am hoping to list the homes and plan to refer the building to another agent because I have no experience with commercial. I'd like to ask some questions about the building at the meeting though, to make a good impression: such as whether a 1031 is wanted; area of replacement property; ask for a current operating statement and rent schedule; ask about vacancy rate; original purchase price; current tax basis; time frame and goals. Since I don't do commercial, I don't know if I'm leaving out important questions. Does my list sound okay? What should I add or leave out?

Very smart idea Chris. Commercial real estate can get you in a lot of trouble if you don't know what you are doing. Congratulations on doing the right thing. I would consult the commercial agent you are going to refer this out to, since they can see the exact building and know the exact questions. Good Luck!

Thanks Jennifer for responding. I wasn't sure if my Qs were on track for the meeting. The meeting was today and it went very well. Thanks.

Be sure to pick the right commercial agent to partner with on this deal. They should be someone who specializes in this area and type of complex. Commercial is very specialized and everyone has their focus. Some are in medical, some retail, some multifamily. Since you are going to be working with the other homes for the client, choosing the right partner will be more critical than ever.