So, considering he is the boots on the ground and found this deal for us, what is his reasonable share of the profit?

Traditonally the industry uses "Comparable sales" to value 1-4 unit properties.

Also, you PM fees will be astronomical (8-10%) compared to the fees paid by 100+ unit owners (3-3.5%). 

@Brian TranAppraisers value based off size (sq ft, beds, baths, garage y/n) and also condition.So if you have a 3 bed 2 bath in “C4” condition then he will compare your 3/2 to other 3/2’s in C4 condition.Condition ratings are ridiculously subjective in my experience.

They will be my “boots on the ground “ so to speak.

I know a lot of investors don't like paying the fees, but on those early purchases, our agent saved us so much time and money and was an invaluable part of getting us off the ground.

Sellers want top dollar and buyers want the deals so you have to try to find middle ground where both seem happy to proceed to get paid as a broker/agent and have a successful closing.

We had a potential offer withdrawn on our totally rehabbed 3 bed, master bath with two 1/2 baths because their king size bed would not fit in the ground floor bedroom.

Originally posted by @Max Petrov:@Nick B.For me it takes much more longer) You  need to develop a model of a good deal and then just compare what you see with that model.E.g., your good deal may be priced at $80/sqft "all-in" in the submarket where retail houses are priced at $110/sqft and rents are above $1/sqft.You need to know these numbers before looking at individual properties.

I'm looking for some help/contacts to get this deal off the ground.