@Rich Pierro - here is a link to the forms provided by the state of Colorado Real Estate Commission You will pick based on the transaction type.

I’m fine to pay a commission to a realtor.

Only use an agent that has done several of these transactions- there are few an far between.Also, most agents will want the commission when they complete the lease option agreement, not when they compelte the sale.

Let's also not forget that even if you progress to actual negotiations with the bank, they are going to try to slip in something sneakily to try to cut your commission.

What was the net to the investor after holding costs, selling commissions,etc?

Your property management LLC MUST be registered with the real estate commission as well (only if you are managing other people's properties).

If investing  will be the bulk of your activity and business,  I personally would  find the best 100% commission brokerage around. 

They make no fees or commissions from RE acquisition or debt paydown."

., commissions and carry costs; (2) keep the construction costs down, with large buying power and in-house construction teams, then it could work theoretically.

In CA leads can not be rewarded with a commission because the person is not a realtor.