Normally when someone is doing something like this it has to do with a volume buyer, meaning he is doing several of these a year and his profits will add up all the way to as if he did another entire flip that year for FREE. 

Is there good foot traffic?  

Most states you cannot pay non licensed people kick backs for commissions.you can though just not charge what you would normally charge.so if your normal fee was 6% to double end and you wanted to only charge 3% nothing wrong with that

Then it would be a normal sale if you sell both sides you get the whole fee if not  then the split.

Do I normally invest the same amount or is there a reasonable fee I can include towards property ownership since I would be creating, closing, and managing the property?

Selling the house will enable you to have a substantial amount of reserves as a sort of solid footing to finance the vacancies for deals just like this one (no job required).Selling with the lease-option or selling outright seems to be the way to go.          

If I were paying a PM company, that would take 8 % of the gross right there, and voila: normaler numbers.  

@Lisa Moon  real hardwood in our market is 6 to 10 bucks a sq foot to buy and install.. are you sure its the same price ?

I know that when I'm on the selling side and someone comes along like a normal cash buyer, ties the property up for a few weeks trying to wholesale it, and can't find a buyer..  

I can't say whether the state law assumes the contract is assignable by default if nothing is in there about it or if the state law normally assumed non-transferable.