@Patrick Menefee  Another point to mention, make sure to include at least the following, when determining the total return: Principal paydown (use an amortization table.. you can find a million on Google) or forced equity/appreciation of investment.Rent Cash Flow (CF) after payments/taxes/insurance.Tax Shield (if you are a higher income earner, this can also be something as well).  

@Vanessa Hernandez anyone on BiggerPockets who puts out a blanket statement that NJ taxes are high in my opinion are not looking at the overall picture of what NJ income properties can bring to the table. 

@Melissa GuntherProperty #1 we owe $110000, value $380000Property #2 we owe $183000, value $300000Total mortgage per $2583 for bothIf we cash out equity on #1 we could pay off #2 and pay $1960 for both but we would have to pay about $5000 in closing costs and bring $10000 to the table because we can only cash out 75%.

They do bring a lot of value to the table for inexperienced investors. 

No cash changed hands at the closing table. 

Purchase price: $72,000 Cash invested: $11,000 Contributors: Greg Edwards Bought for $72k$11k rehabAll in for $83kAppraised for $106,000Refi'd for $79,500$4400 left on the table$232/month cash flow What made you interested in investing in this type of deal?

He showed me , There was 1 picture where I could see my tools layed out on a picnic table while I was working and I was in the picture (wearing the same coat I had on in his office)I asked him to go back to 2006 on 1 property and show the progression , I showed him where I have been removing buildings and they need to be deleted from the tax records .

Seems like this would create a bureacracy and they'd just quit the business or go under the table with cash payments or something. 

Agree with @Ned CareyFriends or no friends,  the most important factor is that you all are on the same page, exist strategy can change, so important that you all agree to the same end goal.Also, hat is everyone bring to the table?

That is why you can charge a wholesale fee in the first place, because you brought something of value to the table.