When I run my numbers on prospect deals, I run them as if I were purchasing it as a pure rental/investment property.

@Jorge Leon Jr, I understand the ease and sense of security that comes with not having a mortgage, but from a purely financial POV, it isn't ideal.

Live there while you're at school, then either keep it as a pure investment property or sell off and move onto something else?

There are probably a small handful of places you could find these type of economics (pure cash flow and little to no appreciation potential unless the cities really rebound) = Detroit and St.

@Joy JonesThank you all.

Again I can't speak to how much intrinsic satisfaction you get from your work, however - building something from scratch, or re-vamping something real and tangible that has a big impact on a community I'd think might provide a more meaningful day to day.On the pure financial, per above - let's say as an example you could create 200k-250k worth of net worth (less liquid, sure) per year - producing 30k/year income at year 2. 

If they are marketing and bringing you new properties, then a percentage or a flat finder fee for each property may be appropriate.If their role is purely administrative and they are simply managing the rentals once they are received, then I would only consider a periodic bonus based on the increased workload.

A pure luck play from a Craigslist Ad resulted in my very low offer being accepted.

And my recommendation is purely based on my personal limited experiences. 

Oh the joys of the internet and people with too much time on their hands.