I've done enough personal home projects to know, if I find a deck company it'll be 2k, but a GC will charge me 2.5k to over see it...

This way the partner is getting paid more precisely for what they contribute.

The person calling you is on a money grab. you do not need a wyoming trust. 

Make sure your personality matches your path.  

Personally, I would start simple with a single family. 

Spend the money for peace of mind now.Also, make sure you're getting paid for the risk you're taking on with the foundation issues.

You could also sell the lead to another company/person.

If I understand correctly; the seller would receive 80% ($40,000) directly from the mortgagee at closing and would enter into a personal agreement with me for the 20% down payment ($10,000) in which he would be reimbursed separately from my mortgage payments at a separately agreed upon rate and term?

Above just the assumption that it'd be far more of a corporate environment, I just don't think that would happen at a larger shop, at least not for quite awhile, and I do think I would generally be more at home with a smaller office of people (smaller being relative to multi-national, or coast-to-coast, I suppose).Personally speaking, do you find that you're in that type of environment with a boutique brokerage?

You can only target owners with paid off properties who don’t need the money right away.