During an inspection today, I observed a litter box (and evidence of its use) in the bathroom as well as cardboard cat food boxes in the recycling bin inside the unit. 

Food, Drinks, Games, and Socializing! 

If it's not in a B- or greater neighborhood, the idea to get rid of it could result in taking an even bigger loss.

Good food for thought.

If your realtors find you a great flip, let them list it at 6% so that they can keep finding you great deals repeatedly, pay them for gas and food if you’re investing remotely and they check on the properties for you and take pictures for progress updates, etc. 

Dj, setup and breakdown/clean up, food, guest leaving trash in random places, POOP ON WALLS (still trying to figure out how that happened) etc.When it is left up to the guest to manage it all that increases the chance of something happening.Most events/weddings have less people show up than planned for “IF” 30 people really is the accurate head count.Besides for a reception that small they should be able to find an actual venue for $1000 to $3000. 

So this asset class, rental properties, is different in nature than the pricing of pretty well any other product except maybe food. 

No, they are not interested in taking on YOU as a new client.The reality is that if you want a general contractor to go out for free and bid a house renovation for you so that you can put your numbers together and make an offer YOU are not a lead they want to work.

If you start a food truck, would you condsider that investing?

You shouldn't give any equity, if this person is in your network they should just be doing this to help build you, if they are going to do some part of it where you can dump those issues on their plate while your plate has other issues then yeah split it fairly but it sounds like you are going to purchase the food, cook the food, plate the food, and all they will do is suggest where to get it, what recipe to use, and how to garnish it, all of which you can research on your own and learn from doing.At most, agree on a flat consultant fee, pay them that once or however often they help you connect or answer your questions and split the equity between the people who do the real work.