If you invest $200k in a property that nets $1k of cash flow per month, it sounds great on the surface. 

To give you a different perspective, if all of the skin in the game (money) is mine, why shouldn't I just pay you a 5%-10% management fee and/or a 5%-10% finder's fee? 

Both have fixed costs, and any reasonable partner is going to want you to have some skin in the game.

If they are putting any "skin in the game," how can they be responsible for a loss? 

I would keep looking and analyzing every property that comes on the market to compare and see which are the best as this one at the surface looks like it might be a bit low on cashflow, if any.  

They have more skin in the game then you do.Make sure you get clear title.

Plus it is difficult to build credibility when you don’t have any skin in the game.

The crack does not create the surface to be uneven so it is not a trip hazard.

Full renovation of all surfaces.

I realize that on the surface the most practical solution is sticking out my W2, but I'm finding it has been very limiting in terms of the dulling mindset I'm surrounded by (yet I can't listen to podcasts, read, take phone calls, etc), the pay is only average, and love learning new things and have been with this company for a collective 13 years since shortly after college.