On a broker split maybe you need to bring in 120,000 commission to get that 72,000.

Jeff makes up repeated excuses and strange reasons as to why he can't/won't pay (i.e. family emergency, bank is rejecting wires, software/website is buggy, telling investors to go "f*ck their mother").I'm in a group with 30 other investors who were also scammed by him. 

I would love to hear from other more experienced in the field about alternative ways to financing that I should consider besides the HELOC, maybe also hear from investors on how the process of bringing investors onboard works.

It is very simple and cheaper to set up the LLC in NJ vs NY ($50 vs $200 when going on the state website) what is still an open question is I also need an operating agreement for the LLC once set up, wondering if that is also free as part of just getting the LLC set up on the state website or if I need to use a lawyer or a legalzoom type of service to do that.

That's all you bring to the game.

I signed up for Stessa because they don't charge a fee for 1 property and appeared to have a user-friendly website.  

We would like to create a partnership where we are 50/50 partners and he brings the cash and I bring the experience, knowledge, and contacts ect.

Please check out our website www.smithislandinn.com and reach out if interested.  

Based on what I am seeing on the Department of State website, in order to do this I'll need to be a licensed broker.

where can we find places-websites to analyze areas that will provide positive cash flow?