If the note was generated as a seller carry back then I would definitely have a real estate attorney review it for any terms that May reduce your enforceability.

Even if it looks like I'm making great profit each month on rentals (anywhere from $200-400 after putting away 15% into savings and 8% on management) and yet the ROI is below 8% and our realtor said it needs to always be at least 8%.

Financial freedom is when the income is generated without you having to spend time earning the income.

@David Moore not yet, but I suspect it could be generational as that is a more common trait of younger tenants. 

Nope, as a landlord, I want to choose who lives in my place and hold all the cards.And if I wanted to share the cards with someone it would be a PM with a business and insurance, not a person wanting to make a profit by raising the rent above market rate. 

Ok so lets be realistic, obviously new investors or amateurs aren't going to be able to get professional investors to give a majority profit on new ventures , but what is the best way to start a partnership percentage speaking?

There is profit margin to be made if the project is completed but for various reasons, I need to liquidate my capital and can no longer complete the project.

How much cash flow can you generate on this deal?  

Would it be a good idea to find a mentor to walk me through every step of tHE efirst flip and then to take a percentage of the profit?

If I buy a house for $500,000 with $100,000 down and sell after 3 years with 7% increase each year how much would my profit be and why?