A two person partnership at 50-50% each has been often described as legal malpractice.Consider having persons assume the roles they will actually perform and document that role:The guy who finds the deal is the owner.

Nothing is 100% accurate, so you will have to review the data to ensure you are not wasting $ on dead ends (property just sold/on MLS, recently rented, etc).

But here are some really interesting numbers...Ok so this one doesn't look too bad but notice how much more the townhouses and condos dropped in prices over the last downturn.2007 peak to now isn't so good...Before the 2007 run up to now is better, but even then, apartment condos performed the worse (so best case scenario, you have the worse performing asset type, worse case scenario you had a terrible return), and that's assuming you had nothing go wrong with the condo (special assessment etc)But benchmarks don't even tell the whole story, because if you had a specific condo investment, and you tracked it's value overtime, benchmark prices isn't the right approach as it evolves overtime (benchmark price is the price of a typical property generated at each point in time).

Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

As a general legal theory, when the parties act in reliance on a written agreement and perform on its terms, the agreement is enforceable, even if it is very badly worded.

So you still want 10% for performing the same work?

The meaningful relationships are earned by being a trusted advisor  who provides accurate information even if it means your client will be less competitive on that particular opportunity compared to the buyer who arrives at their purchase number based on bad advice. 

Hey Stephanie - If you’re open to STRs, they tend to perform well in Orange County.

.- I have not done a brrrr since the rates increased in early 2022 because in my market they bleed cash after I perform a refi to extract some of the value add

But as a FSBO, I would to make sure you are pricing your house accurately with comps, hire a professional photographer, pay to list your house on the local MLS to make sure the people you want see it, hire a real estate attorney, and prepare to deal with buyers.