Both have fixed costs, and any reasonable partner is going to want you to have some skin in the game.

Sounds like they want to play the game, "Watch the Market Cycle" and buy another place if things cool down.Unless you have tons of assets to protect I wouldn't worry about renting to a lawyer.

If they are putting any "skin in the game," how can they be responsible for a loss? 

I just want to get a taste of the real estate game, any knowledge will be a great help.

They have more skin in the game then you do.Make sure you get clear title.

So, I’m on the hunt for a great deal.Here’s what I’m afraid of: I don’t want to tarnish my name among the community as someone who talks a big game but can’t close... what if someone brings me a great deal to wholesale but I can’t find a cash buyer?

My only problem is I don't have enough saved up to buy the 5-plex and with just getting started in the rental game will taking on a 5 unit building to start be too much? 

Congratulations on getting in the game @Jayden Thompson!

But not ethically or by law.It is possible that the seller instructed the agent to take the best offer above $XXX,XXX and not to play bidding games. 

Plus it is difficult to build credibility when you don’t have any skin in the game.