And you can mix and match, not each of your 3 investors need the same structure. 

Every paycheck, every bonus. 15-20% goes into your bank account that you’ll use for investments (real estate, Roth IRA, 401k if company matching, Vanguard brokerage account).

What both the previous posters said is on point, your decision making on properties has to match the goals you have laid out.

In fact the only situation where I would pay more than about 3% is if they have no equity and my payment has to match theirs.

At the moment I'm calling NNN teams/brokers at major firms and asking for their current inventory that match my criteria. 

Have the seller provide bank statements showing monthly deposits matching the amount he said each tenant has been paying.

Most people like to talk about themselves, so I encourage that and then listen for things that don't match.

If you are only flipping a handful of houses a year, you can probably get by with a spreadsheet, but here are some important items you need to track/consider for tax season & business management:Tracking Project Expenses & Revenues to calculate your project Net ProfitTracking Assets/LiabilitiesProfit & Loss Statements showing Profitability of each projectTracking how much you paid each vendor/contractor for filing Annual 1099sActual vs Budget Tracking so you can see what repairs were over/under budgetBank reconciliation to make sure your accounting books match your bank statementsProvides a history of the business, so you can track financial progress or pull past financials in case of an Audit

You can make money on such a deal, but you have to tailor your strategy to match the reality.

We improved the kitchen, just by painting cabinets, adding hardware, adding a range-hood that matched the stove, painted the door and did some yard work.