This will help you narrow your areas of focus and help define what savings goal you should be working toward. 

The best deals over the last 12+ months  are definately off market properties. 

Yet.)The actual Request/QuestionWe are currently having a lawyer draft up a contract to define the partnership (as private persons, no company structure yet), and it would be very helpful to me if you could look over the main points and give me feedback!

They could reduce all title aspects, and then you'd pay a title company those fees.  

I didn't read this to ensure its accuracy but it certainly looks to be from a credible source. https://www.irs.gov/pub/irs-utl/33-Real%20Estate%2...Cliff Notes:Real Estate Professional Qualification • Material participation in each specific rental • Material participation in separate Real Property Trade or business • 50% rule • 750 hours rule • 5% ownership ruleReal Estate Trade or Business Defined IRC Sec. 469(c)(7)(C) Any Real Property: • Development or redevelopment; • Construction or reconstruction; • Acquisition and/or conversion; • Rental Activity that is not a Passive Activity; • Property management; • Brokerage activities.Example 1: Laura owns 5% or more of a real estate sales office • Works full time as a broker • She owns 3 rental properties and: • She finds the tenants; • Approves tenants and leases; • Approves and oversees repairs & improvements • Net rental losses are $31,000 and her modified AGI is $160,000 before the losses • Deduct the full $31,000 in the current tax yearExample 2: John acquires old homes and contracts 3rd parties to renovate and ready for resale.

If you don't know where you're aiming then you'll never get where you want to be....I found this to be true not only with golf but also with investing and a bunch of other aspects of life.Set your target first and then fill in the blanks.

Very clearly define the profit split in the GMP contract.

The "no money" aspect, strictly means that you are not purchasing the property yourself, you would be assigning the property to an end buyer.

We pick one of our favorite restaurants, book the entire place on one of their closed nights or a slow night in January, and invite our work team (plus one guest each) to join us for dinner and a celebration to show our gratitude.Most of our construction/trades contractors don't have health insurance and put off aspects of their health care.

Also, there is more to the deal then simply negotiating the deal - make sure you understand all aspects of the closing process if you attempt this without an agent (from inspections, to objections/clauses to get you out, to on record and off record title work, just make sure you know the full process which is what a buyer's agent can help with).