A colleague of mine would like to put up the money and I'll take care of the procurement, management, etc.  

My sole intent is to procure investment properties in Low-income, increased crime activity areas, and neighborhoods enduring poverty primarily in Newark & Jersey City.

There are some turnkey companies that will allow you to procure the distressed home and they run the rehab at cost (w/markup) for you.

If the original agent showed the property but contributed nothing else and had no buyer rep agreement in place, one could legally argue she was not the procuring cause at this point in time - this is typically on a case by case basis.Georgee, your best course of action is the one you’re taking.  

Technically, a commission is earned from being the procuring cause of the sale, but if the agent is not the procuring cause and you are out of contract, it would seem to me that you don't owe the agent anything.

In fact, I would generally avoid most multi-units in South Florida unless YOU are the procuring buyer.

Looking for tenant procurement service only.

In Nashville, where my other properties are located the typical management fee is as mentioned 8-10% of gross rents, however, what I do see a lot of variation in is the "lease fee" the percent of the first months rent to procure the tenant.

As for whether you'd be responsible to take out a loan if an investor puts 20% down; unless you have another means of procuring the other 80% - yes. 

Also included on the list of activities that require a license are any attempts to lease property, any acts directed at procuring tenants for a property, the negotiation of leases, or advertising or holding oneself out as in the business of leasing property.