It may cash flow for a year or 2 but once things start breaking or something goes south with a tenant or it sits vacant for a few months, all of that previous "cash flow" is wiped out.The business model is a high CapEx / low cash flow business model relative to the value of the assets.Rentals are a great long-term wealth-building vehicle (appreciation, loan pay down, tax benefits, etc).Don’t rely on them to pay for your groceries.Sounds like you have a lot of experience in negative CF, and not in positive CF. 

I guess they think these investors are accredited so a fee structure is a good model. I

Just trying to sort out an assumption so I can plug it into the model I build and calc post-construction LTV and sale assumptions.

Not disputing your experience and I'm sure your agent is great.However, the Goosehead model is designed for the local agent to sell and the corporation to service.

Eventually the masses will catch on and then the model is tougher to continue to do. 

Blanks model is very comprehensive.

I have a solution that I do myself once a year.Here's one of my best tips: go on Airbnb as a TRAVELER, in Traveler mode.

Salaries, compensation, rent, taxes, utilities, fees, MLS, etc.The flat fee model is a recipe for disaster."

Your model is awesome. 

That in mind, I wouldn't chase these deals, especially if you are in "growth mode".