Hiring an acquisition person

[Don Chambers]

I have some experience in real estate investing.  I have 26 rentals that I have acquired over the last 9 years, and have done 4 flips - about one per year.  I have been doing this part-time but I want to ramp up into a real business.  I am going to start marketing heavily.  I'm going to start sending to absentee owner lists and using pay-per-click for my website.  

I need a process in place that does not rely on me doing everything.  I'm too busy and will fail if I can't delegate my work.  I need an acquisition person.  That is, someone that can handle these leads for me. I got a lead last Thursday, but I think I missed it because I could follow up in a timely manner - I need to outsource this.

1. How should I pay the acquisition person?  I prefer it to be some type of commission, but it can't be on the purchase price.  I need a way for them to have an incentive to buy low.  I don't mind splitting profit, but sometimes the lead may turn into a rental or wholesale deal.

2. I can't get a process for valuing the property documented.  They will need to do this to make the offer.  I look at zillow, tax site, comps from the MLS and then screen out ones that look ridiculous.  Seems like an art.