To keep the hard cost down somewhat I DO plan on doing some Serious negotiating as far as supplies and labor goes .Not that I am a cheapola but there are bargains around if you shop hard enough .

If I am in a partnership where my partner owns and supplies the house and I supply the renovation budget.

Yes, it's possible to make some money here but the market is super hot, a lot of investors here have extremely deep pockets and the demand is out stripping supply by a wide margin.

But if you have three amazing candidates and one wiling to pay it, then go for that one.I'm not sure how the supply / demand is within your area at this moments, but this gives you more qualified demand to select a qualified tenant. 

Makes me think it's not a supply or supply-line issue, but I'm certainly not a plumbing expert.Any thoughts?

But, remember, the broker needs to make his/her money somewhere, so if you're not paying commission splits on your transactions, you're probably paying much higher monthly fees.A broker incurs a lot of costs from the agents s/he oversees -- including liability, training overhead, office supplies, paperwork review, continuing education, etc. 

I.e. is he going to charge you extra for his repair trips or are those included (at least the labor and basic supplies)?  

Hi @Steven Booty,A lot of people here in Monmouth County complain about the inability to find good priced deals, so I'm glad that you're able to recognize that there is a supply.

Especially as markets continue to be hot and buyers are everywhere they continue to squeeze margins tighter as the supply of properties is low and demand is high.

A middle ground to consider would be to find an experienced and well respected builder and offer a JV deal to them where you supply the property, they supply the skill, experience, labor, and materials, and you agree to a reasonable split of the profits.