This sounds like an excellent candidate for a "wrap" or all inclusive deed of trust where you would pay the seller and lender (through a title company or loan servicing company) the new, agreed upon payment based on what terms you negotiate. 

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

I had quite a bit of money saved up from years of traveling and not really paying any rent as I was staying in hotels and accommodations paid for by my tours.

I want to give him incentives to work with me but I am pretty sure he doesn't want to spend a big sum of money into the property.My idea is to ask him to pay 5% of the property and get 10% of the property.

After 15 years with a traditional brokerage, I now feel foolish for the low commission splits that I  received due to the need for the brokerage pay for all that bricks and mortar- who goes to an office to buy real estate?  

I was thinking of buying "raw" land to sell later.Looked at an auction of the "Land of Land" site.

Don't be alarmed by the old schoo, suspicious-looking site, it's completely legit and full of amazing tips on getting started with flipping.

What are some things to pay attention to / negotiate?

Check out the video in the STRLawguys site.

@Michelle Bueno you’re paying someone 10k to take half hour profits up to 500k?