Wondering what the best way to go investing with your adult kids

[Meredyth M.]

I have a couple of rental properties now that my son manages and I pay him for that, but not sure what the correct legal way to do that- do I send him a 1099 for work performed? We are also looking to expand with him handling most of the future properties and flips. How does this work at tax time? Can I pay him finders fee or handling fees when he finds investments, or if he brings a buyer- and we do not use a realtor?

thanks for your help!