Figure that arrangement out (hmm.... with your favourite agent) and you can be state that upfront when other agents bring you deals. 

Your funding needs to be pre-arranged before you go under contract.

We would not be able to live in a duplex based on our living arrangements.

He deals primarily in property management, so it wouldn't make sense for him to, I guess, enable the competition.Any advice or direction on a broker who might be open to an arrangement like this?

I saw a lot of people get in trouble with arrangements like what you are discussing above after 2008 - when the market corrected.  

If he is experienced, I would certainly wonder why he would be ok with 50% split.A lot of investors with this type arrangement pay each party’s money back first, then split the profits on a sliding scale with the party doing all the other tasks retaining a higher split than the other silent partner.

In this case, for tax years 2013 and 2014, the record shows that the Minnesota LLC's interest in an entity, which is a multi-member LLC classified as a partnership for income tax purposes that entered into a joint venture to purchase real properties in California, more closely resembles that of a limited, rather than a general, partner and, therefore, the Minnesota LLC was not doing business in California for those tax years. 

It'll be more labor intensive especially if you are arranging meetings and providing value with masterminds.

Step One: I pay seller an agreed upon down payment (or do no-money down, if agreeable).Step Two:  Record the promissory note that details arrangement for this seller-assist sale/purchase. 

The city has never had an issue with this arrangement for long term rentals.Being a small town in Missouri, short term rentals are new to them.