I know many make it sound easy and you need little to no money etc etc.. but that simply is not the case. 1. get your license and work on a team.. tutor under a top performing agent you will get paid as a member of the team no have to work for free for someone who will just cut you lose if you bring no value to them.2.

What markets are you looking to perform the flips in? 

Or it could be a percentage of the profits that makes sense given the expected performance of the deal.  

Some of the units need extensive rehab so a PM that can handle everything would be great.

Going with a local company can take some of the tasks off your shoulders and make it truly passive, but it likely will not perform even close to what you could do by listing it yourself on AirBnB and VRBO (or EVOLVE which does both).

You want a bunch of security behind the note so if the buyer runs the property into the ground and it becomes semi or non-performing you have some options and recourse.Now if I was on the buyer side no way would I agree to such terms from the seller unless partially on some of them if the property was way under market.You have to find a balance where the buyer is happy and you are happy doing the deal.

I would contact my attorney to help me requesting an extension.

When asked he says that this other person is not living there but we have been over in his apartment (with permission) 5 times in the past week because of various work that needs to be performed and this other person is there every time we have been there to do work even when the tenant is not there.

You basically assign your rights to somebody else (investor) and they perform on the contract you negotiated.

It seems to me that in order to perform today, you need some type of competitive advantage.