Even when you hit volume you have to start hiring recruiters and also broker support ( associate brokers ) at your firm to field all the constant questions.Once way,way back I was with Solid Source Realty.

My apologies, I'm still not entirely sure how to quote from more than one source from this thread, but I'd like to add my two cents to the pot. 

You can work with a reputable turn key property provider, or very knowledgeable local real estate agent who also is an investor.Note that the great majority of real estate agents do not work well with investors because they simply don't understand investors and their needs; and they are usually limited to properties on their MLS ( which often is not the source for the best deals).Having invested myself out of state since 2003 I've come to learn what to look for and can talk about this extensively.  

Great source of information!

Also, BP has been a great source of business for me, and all I had to do is what I like doing anyway....just being active on BP, making forum comments, sticking my 2 cents in

Depends on your source of funds.  

You could also use the source you mentioned; especially Craig's list.                             

Agree that you should look at how stable the income source is (type, length, etc.).  

Split was not that good 60/40, but in order to have the foundations to build a good business, it was fine for me.Then, I move to a pops and mom, you know them there are tons of them out there, where the split is great, ( you get almost 100% commission), but marketing and support for you is none, I was doing my CE on my board and trying to get as much as I could from different sources, at that time, my income plateau, and then I realized in order for me to grow, I had to move.

However, Person 2 has bad/no credit, and Person 1 and his wife have excellent credit and bank financing will be obtained solely based on Person 1 and wife's credit.Given the situation, does it make sense for a straight up 50/50 equity and profit splitting?