If they are an experienced investor who is also coaching and mentoring you through the process and not just providing capital than I would say a 30/70 split isn't crazy either. 

I am wanting to learn as much as possible and hopefully find some mentor/coach on how to get started and maybe walk me through the steps on finding good to great deals and closing.

@Jai Deva I have a friend that used a firm in Las Vegas: Jeffrey Burr. 

I am a wholesaler as well here in Las Vegas.

I am originally from Las Vegas, Nevada and grew up around construction and contractors.

When I do lease options here in Vegas, I just tell my attorney the numbers on the deal and he will fill out the contract for me and we all go to my attorney's office to close on everything.

If you want to 10x yourself, thing bigger and more creatively....and consider hiring a coach in the area of your focus (see links - first one is from my coach on ways to get into MF investing; the second is an interview I did to share ideas on how I got involved and accelerated my experience, learning and income).  

good concept Bryan, flipping vs buy and hold are keys to how wealth can be generated by using two different methods of investing aka envesting as i like to say, i'm a newbie in this industry my plan is to buy and hold rentals and later refinance the property and reap the benefits of the cash flow to purchase rehab and flip discounted properties that i find along the way, my strategy may be different than most but most of my educational coaching suggested looking at every deal as if it were flip and or rehab, i agree with Bryan, if i can get the cash flow and equity that buy and hold offers then that is the strategy that works best for me, but if i run across a flip/rehab that is worth my while then i execute accordingly but leverage is a important aspect of the buy and hold strategy will be implementing in my world.......good luck on your investing journey

I havenot fone any wholeselling with them but this is what I have put togetherso far in Vegas.Here is how it works:Over the past 7 years the Vegas Valley has seen enormous growth in the housing market and home values.

u can not require in most states for tenants to do maintenance only to keep neat and tidyI offer a base rent -0 per cent above market and an early "on or before rent due date received" payment discounted rentNot a late feeIf you do NOT enlist in a mortgage qualification coaching service and leave the tenant to procrastinate on get loan pre qualified, in 30 years of doing lease options I see the tenant not being successful at getting a home loan