Not to sounds offensive, but everyone's time is valuable.If you are a buyer, you typically don't pay anything to the agent, unless they charge any retainer fee.

Keep in mind you will need to put 25% down typically. 

For lower priced land sales, agents typically charge flat fees, or commissions in the 10-25% range.  

(I made sure he understood what I was asking)So, typically you would Rent then Refinance, right?

Get a larger than normal deposit.....construction employees won’t take the same care as an individual typically......I know.

@Gregory Press I would definitely increase your vacancy, I typically use 8% as after a year you'll basically have 1 month's rent saved up (1/12 = 8.33%).

Typically, the person/people who bring the money do not have any involvement in the business plan, so since this person is teaching you, you should give up more of the deal.If you are not bringing the capital, then the split will depend on what you are doing.

The homes are typically brick ranch style and need some updates. 

Granted, that house had some challenging features but we were surprised by the lack of traffic.

The problem is that there are no limits on how many short-term rentals a single property owner can operate, he said.In some Arizona cities, Drennon said, “bad actors” are buying and converting entire apartment buildings into Airbnb rentals, effectively creating hotels in residential areas and depleting local supplies of rental housing.By contrast, traditional hotels typically operate in commercial areas that have much higher property tax rates.Many cities around the world — from Paris to New York City and even Airbnb’s home city of San Francisco — have laws that limit short-term rentals to protect the hotel industry and residential neighborhoods.