"Finders Fees" in regards to remote wholesaling

[Christopher Thomas]

Ok, so I'm just starting out in wholesaling and I'm quickly trying to put my systems in place. I want to start bringing on "property scouts" in different markets to basically submit offers to FSBOs on Craigslist.

I've read some things on here and it seems like the max you can pay someone who is not an agent is $500? Is this generally true(I realize some states may be different)?

The idea would be that my team would make offers and if the seller was interested, I would get property under contract. If the property closes I would cut them a check for $500 from my LLC. I figured it might take someone 15 minutes a day to make one offer, so it could be a good way to get extra money for doing very little work? I would like to pay people more and create a bonus system, etc. especially as my business grows to keep good "scouts".

Has anyone done something similar? If so, what things do I need to have in place? As a newbie, should I even attempt to tackle this?-My thought is, why not start building the foundation now?(I could be wrong?)

Thanks in advance!