What to Look for in a Real Estate AgentWhen buying a home, you want a real estate agent who… Takes the time to understand your needs and goals, so you have a true partner in your home buying journey.Explains everything clearly and answers your questions, so you’re never in the dark.Has expertise and a track record of success in the local market.Knows how to find great properties in your price range.Will alert you to new listings, quickly, so you get the jump on those opportunities.Will advise you on the best price to offer for the home you want.Will prepare and present the offer, and skillfully negotiate such things as price, conditions, closing dates, etc. so you get the best deal.Will save you potentially thousands of dollars by ensuring you don’t overpay for the property you want.Will recommend reputable home inspectors, movers and other professionals you may need.Not every real estate agent offers all of these services.

If you want them to mentor you, figure out what skills/experience you have to offer in exchange.

Unless he's a skilled painter and just sees it as a mutually beneficial situation, this sounds like a huge red flag ...... proceed with caution.

I was thinking doing a promissory note which could work for now but eventually I would like to have more 'Funding partners' Also I'm thinking proposing they put 100% of the cash, I put knowledge and skills and my time I would not charge anything to list and market the property and we go 50/50 on the NET profit.

A transaction-broker must use reasonable skill and care in the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction-broker concerning a property or a buyer’s financial ability to perform the terms of a transaction and, if a residential property, whether the buyer intends to occupy the property.

Before you set it up I would advise assessing your own resources (time, capital, skills) that you can provide to the partnership and anticipate what you think an ideal partner would also bring.  

The number of months of (total) operating expenses you should have in reserve will go down as your portfolio grows (If you have 10 units and 1 goes vacant, you're still getting 90% of your rental income).Its a numbers game really... 

It is somewhat skilled labor.How do they get it done?

If you have the skills, the best situation is to find a property that needs work, complete some value-add improvements, then you can raise rents.  

It is somewhat skilled labor.How do they get it done?