Thanks @Bill Brandt for the detailed response.

However, there was no formal agreement or contract between us regarding the ownership or any financial details related to the property.

We are rapidly becoming experts in the nitty gritty details of construction.We also know who we are not: local market experts.

Using a 1.5x estimate for what a MTR rental rate might be gives us $3,750.

When working with a realtor under a one-year exclusive buyer representation agreement, the terms of exclusivity and commissions can vary, so it’s essential to clarify these details upfront.

They eventually sent one out who visited the property, told the tenant that she would have to buy a bunch of parts, then charged my tenant $50 for visiting, but never submitted an estimate.

Below are estimates of the housing shortage by different institutions:The National Association of Home Builders (NAHB) estimates a shortage of 1.5 million units (2021 data).Freddie Mac’s estimate is a 3.8 million unit shortfall (Q2 2020 data).A report commissioned by the National Association of Realtors (NAR) (2021 - Rosen Consulting Group) suggests a 5.5 million unit housing shortage.No matter which data source you choose, there is a massive shortage.

Because I don't see any details about a commission he is owed in the California Realtor Purchase Agreement, so how would I promise him his 5% for example?

Thanks so much for your detailed response!  

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!