After all, if you and a friend agree on a price, the agent does not have to market and procure a buyer.  

I plan on opening my own shop soon & would like some thoughts on procuring investors into my business.

Bottom line is once someone becomes seasoned in buying and selling real estate they will be able to get more experience in procuring the best deal for themselves or not. 

And yes there will be commissions if you contract within the protected period of the listing agreement that recently expired if the MLS or activity of that agent was the procuring cause of the deal..:)

(and he got the product procured in less than 24 hours.) 

I don't want to stop the process until itenant confirms they are leaving and I can change locks..  

The typical benefit of s-corp status is that it enables you to pay yourself a "modest" salary, which would be subject to these taxes.

However, he had an FHA short sale from WFB that closed in 2010, which limits us on the type of loan we can procure (VA - 2 yrs from short sale; FHA - 3yrs; conventional - 4yrs).

So the the 6% sales commission they pay which is split between the listing and procuring agent is paid by from the proceeds of the sale.

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.