I'm fairly new to BP and real-estate investing. 

You want to look for similar options and see what they charge.If they are charging $1100-$1300 and have no vacancy you're in good shape, otherwise move on to another idea.So, to summarize a bit, this strategy works really well in areas where small apartments are in short supply and fairly high rents.

With Hard Money, you will get fair terms and also know if you have a good deal to invest in since Hard Money Lenders do due diligence on the property prior to lending.   

I'm fairly new to real estate and have quickly learned that the IRS gives us investors a lot of breaks but it comes at a price.

So, in a few of the single family houses I have recently purchased for rentals, the basements are fairly humid. 

Ensure they know they will make the most money possible by working with you.

What is a fair response to this?

No I haven't put a property under contract yet looked at a fair number of properties but haven't pulled the trigger yet for various reasons Over the last few months.

You will have to decide for yourselves what is fair given the value each person brings to the company. 

How your services are structured and compensated will also play into the final 'fairness' decision.