"Risk taking generates growth by moving resources to enterprises which create future jobs and consumption opportunities.Without stable and transparent economic roles that allow and encourage a reasonable return for risk taking, growth will not occur, as even wrong entrepreneurs will refuse to take risk.Low interest rates do not encourage creative risk taking, but create just more highly leveraged investments in low risk instruments.

If it's a flip, just do a joint venture agreement and define each parties roles in detail.  

The sub-market you're in will play a determining role in what strategy will work.

I am considering shifting into an agent role in the near future, and have wondered everything you wonder.

I am quite handy and can do a lot of small to medium fixes myself, for example I have finished a 650 sq/ft addition on our primary home and I have really enjoyed being in a General Contractor role.

At this point I'll chalk this up to an exercise in "doing the math" rather than going forward with the bidding process at this time.

If your return is not that great, think of it as a learning exercise!

Maybe consider a mail carrier role.

Sure they may handle snow removal, lawn care, etc, but be careful about allowing them to make capital improvements to the property as they may be able to claim an equity interest in the property even if they do not exercise the option to purchase.

Clearly define your roles and expectations up front and keep each other accountable.