I'm in the process of researching where to procure my first mailing list.

I'm a licensed agent in Maryland, and thinking about using bandit signs to procure wholesale property and/or listings.  

If you have it should spell out what happens in the event you were to procure your own buyer.

If the agent didn't procure you, there shouldn't be any look-back regarding a commission.  

.— (1) As used in this part: (a) “Broker” means a person who, for another, and for a compensation or valuable consideration directly or indirectly paid or promised, expressly or impliedly, or with an intent to collect or receive a compensation or valuable consideration therefor, appraises, auctions, sells, exchanges, buys, rents, or offers, attempts or agrees to appraise, auction, or negotiate the sale, exchange, purchase, or rental of business enterprises or business opportunities or any real property or any interest in or concerning the same, including mineral rights or leases, or who advertises or holds out to the public by any oral or printed solicitation or representation that she or he is engaged in the business of appraising, auctioning, buying, selling, exchanging, leasing, or renting business enterprises or business opportunities or real property of others or interests therein, including mineral rights, or who takes any part in the procuring of sellers, purchasers, lessors, or lessees of business enterprises or business opportunities or the real property of another, or leases, or interest therein, including mineral rights, or who directs or assists in the procuring of prospects or in the negotiation or closing of any transaction which does, or is calculated to, result in a sale, exchange, or leasing thereof, and who receives, expects, or is promised any compensation or valuable consideration, directly or indirectly therefor; and all persons who advertise rental property information or lists.Keyword real property of othersHere is the Fl definition of real property(i) “Real property” or “real estate” means any interest or estate in land and any interest in business enterprises or business opportunities, including any assignment, leasehold, subleasehold, or mineral right; however, the term does not include any cemetery lot or right of burial in any cemetery; nor does the term include the renting of a mobile home lot or recreational vehicle lot in a mobile home park or travel park.Exemptions.

I would pay a contracted fee each time they put them out, then give a little piece of each deal procured by the sign.  1099 them for sure if they earn more than $600 per calendar year!

I really appreciate it, so if the property is procured using traditional funding, then is my understanding correct that the interest would be the the only mortgage component considered for the NOI?  

Your ability to procure good properties led you to this point, not your ability to hang 50 feet in the air with a chainsaw.

As a HUD authorized Brokerage in Florida, we assist Investors in procuring both HUD and non-HUD properties.To that end... if you want to be successful, one of the things you need access to is a great Title Company to do your closings.For years, we have been using Jordana (Dani) Angles at Central Florida Title, LLC, the Manager of their Clermont, Florida branch.She has been doing HUD closings for 20 years as well as all the different "flavors" of deals that investors can cook up, and does it quickly and seamlessly.

I work for a few strong investors, who involve me in transactions even if I didn't procure the sales, and they do this without my insistence.