Of course you would have to do all the footwork, they would just finance which still you would not only win but could learn a ton.

I am doing some research and footwork at the same time here with the market in Nashville.

That was very helpful.I'm fortunate to live in an area where off-market deals are plenty for the person who puts in the footwork to find them.

I just assumed they already did the foot work and it was legal because my house had to be inspected by an outside source.

I occasionally get calls from people looking for me to do a lot of foot work only to find out they are looking for properties for less than $100 or maybe less than $1000 to flip or rent out.

It's about foot work.

Perhaps you contribute capital, labor, foot work, ideas, office support, technical assitance etc....they will likely be very busy and need help with something if they are highly successful.

You can do a little foot work to the same effect and keep all of your fee.  

If he isn't doing any of the footwork (calls, site visits, writing contracts) but rather checking in with me periodically to keep me on track/ give tips, and reviewing my contract...

It's unlikely you'd be able to use the cash to buy an deal REO on auction com, xome, hubzu, hudhomestore, etc. because of all the fancy footwork with when everything needs to be identified and close.If you sell the next property #2, you have to pay taxes at that future time or you have to re-1031 (IF it's still possible then), just like selling property 1 if you didn't do your 1031.