You can use a SQ FT format to guess rehab but that is only good to initially look at a deal.

Should I stick with my partners for the initial flips or go the hard money route?

When you hear something you don't understand - ask questions and ask people to explain their thoughts, haha, especially if you hear something that you initially don't agree with.

You would have earned 9% on the initial $5K invested, or $450.  

@Mario Morales, to echo Bradley, I would say this depends on what you are lacking in your own knowledge base.To some (probably many investors) the agent is simply an initial filter for them.  

More repair costs because their maintenance team somehow "missed" things during the initial turnover.At this point, I genuinely started wondering what exactly the 15% management fee was for.The Bottom LineLook, I get it—REI Nation is a business, and businesses are here to make a profit.

They require 48-72 hours notice to schedule anything onsite so we've been waiting 2 weeks now for a Section 8 initial inspection date to be scheduled by them.

It can be trained to provide an initial analysis but I agree, nothing replaces expertise and sound underwriting. 

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

That means they have hauled in over $2.6MM just in initial setup fees.