Make sure you  specify the terms and compensation of the transaction.

One issue discovered that leads to a special effects your entire portfolio.

It would be my guess that on average most people dealing in RE, I know it is for sure with agents, do very poorly.The answer is something you will have to learn on your own and it will depend entirely on your effectiveness, which is a result of your efforts, time spent, and abilities, combined with your resources.This is area specific so your best bet would be to find people in your area and figure out what is going on with them.

The price I pay after repairs are completed is the "fair market value" which is also the "retail value" since it was a retail transaction.

I recieved transactional funding for $1895.

Otherwise it can get complicated as you really are putting buyers and sellers together, facilitating sales.You need to read your state statutes very carefully word for word as to what requires a real estate license and then don't do those things if you don't have a license.You can be an employee or memebr in a LLC that buys or sells, as a principal, in other words if BAC LLC buys a property and you are a memeber of BAC LLC, you can then be entitled to profits for the work you perform in that LLC.Another way is for you to take an option to buy and then sell your option, this is placing you in a position of havine an interest in the transaction, but those you sell to may have financing issues with this, it also depends on property restrictions or title limitations as beeing seen as sales during a restriction to conveyances, again check and see how these issues are viewed locally.Generally, you can not act as a third party between a buyer and seller and simply arrange or introduce deals and be paid a fee independly as that is a function of a real estate agent/broker.Lastly, it's easy to get a bad reputation amoung Realtors if you're known as a birddog, they will likely see you as unlicensened competiton and expect them to complain and report your activities.

I read again and again that a person needs a mentor to move ahead and that the opportunity cost of taking the wrong actions, wheel reinvention, or not taking action usually far outweighs the cost of an effective program.

Are reno's more cost effective or cheaper without a contractor?

If in combination you only have $10k, this will mitigate the property purchases you can make which will indirectly effect your potential gross income in fix and flip situations.Once you sit down with the attorney, go sit with an accountant so you all get educated on how it all works.

THANK YOU to everyone who commented my posts and contributed to the thousands of topics on this site, to help me understand what I bring to the table, and be able to communicate that effectively to someone with money, looking for better returns.