Fee or % ownership?

[Tim Martin]

I was asked to help purchase a number of cash flowing properties for a family member. I have a bit of experience and am investing in a market much friendlier to cash flow then the family member. Because of my knowledge, contacts, and geographical location they are wanting me to locate properties, set up contacts for maintenance, management, legal, etc. as well as keep an eye on them (though we will figure costs for prop. mng.). Since there will be a number of purchases made over the next two years I will spend considerable time upfront as well as over time checking in on investments (they will be across the country).

What I am looking for is suggestions on how much to charge for these services. Since this is the first time I will take other people's money and serve as a sort of broker investor, I have no idea what is reasonable to ask or how to structure it (a few options for them to choose from is ultimately what I am looking for). Since it is also family I need to be as fair and transparent as possible.

Thanks in advance for any insight.