This is a great problem, but still a problem.If they truly all meet your objective criteria equally and you have no reason to suspect material differences, then I suggest you go with the applicant who got their formal application into you FIRST. 

I want to avoid "shiny object syndrome" so I am trying to widen our reach while also staying in the lane of value add that we are comfortable in and have been successful in. 

There are different investors out there, looking to achieve different objectives.  

Jeb:As a suggested starting point, offer 50/50 as a good will gesture that focuses more on the relationship, then restructure future deals with each party objectively defining what the respective financial and working contributions drive the deal.

Just like swimming, whereas some people jump straight in without checking the temperature vs. those that conservatively put their foot in to check, the objective is to get in in the manner you are most comfortable.At least you are considering taking a job in the field....many newbies attempt to buy into some guru's system; buying into something they could have found free (or much, much cheaper elsewhere).  

It may align well with your objectives. 

Then decide which avenue is best to help you reach that goal (or ask for advice on how to achieve it)...But, ONLY YOU can decide what your main objective is...

Brian and Chucks info is good but I caution you to look at what you want to do and get the specifics particular to your goals, objectives and strategies.

My personal objective is to have enough free and clear to continue using my pm company long term, so I can enjoy the freedom to find and buy more properties and enjoy life.

The people "working" with them seemed to all be on a referral-based commission of some kind because I found NO objectivity, and there was always a push to join.