If you could get 10% and they keep 20% I think that would be a good arrangement for you.

This requires separate TIC Agreements, separate Management Agreements, etc.Since interest in using 1031 funds in passive syndications is becoming much more popular, I have to think there's a way to minimize the complexity and hassle of this arrangement.

We pay him 7% on gross revenue from Airbnb/Homeaway and he is responsible for managing the listings, contacting the tenants, arranging cleanings and stocking the property etc.

I keep getting shut down by the big banks when I tell them I want to develop a partnership and explore flexible lending arrangements...

Your arrangement with a contractor is a realtionship that builds trust over time.

@Patrick Sears I don't have any experience with these kind of arrangements but they just seem to be a bad idea to me.

Has anyone arranged to get a mortgage released through the MERS system?

There are exceptions, but this means that a CFL cannot arrange a loan for you, Reese, only for themselves.

My plan is to find someone to write up a proffesional SOW afterwards, and just shop it out to contractors and let them bid on it, and if they need to see the property before they bid, then we can arrange that. 

I have not had the best of luck with this arrangement in the past and wonder if it would be advisable/legal to have a different income standard when qualifying unrelated prospects vs a married couple.