hypotherical: partnering for passive cashflow in mobile homes

[Account Closed]

This is strictly hypothetical.

You randomly meet a motivated investor needing a property to live in for under $400 total each month. This investor agrees to share any passive income obtained from renting out their home and any other property they obtain in the future with you if you do the research to locate the great deals. However, they want a mobile/manufactured/SFR in a city that you have no real estate experience in and you are not licensed as a real estate agent. The investor wants TLC properties or fixer-uppers with moderate damage ($10,000 to $15,000). The investor knows you are not licensed as an agent/professional.

How do you proceed to successfully complete the first deal to obtain the cash flow?