Also, all distributions from the business have to be "pro rata" to their ownership interest, which occasionally causes owners issues.LLC: This is one of the most flexible investment vehicles. 

Occasionally, you may find a listing with errors on it, which will net you some profit, or you can do some slim margin stuff and hope to make 10k to 15k, which isn't my cup of tea.If you want to find deals, you need to find off market properties and that means finding a reliable wholesaler (which has its own set of challenges) or running your own direct marketing campaigns.

read local regulations, go to the city and talk to people, knock on your neighbors door before buying... be bold, friendly, positive, and curious.4) execute perfectly and keep great records and data.  5) repeat in same city, or try a new market and see how they compare.Ideally, you would have set up a system and get people in place to manage your properties/ cleaning crews/ handymen and you just deal with the occasional emergency. 

That being said, I do get the occasional client who does not want to search, and they want me to send what I think are going to be good deals.

i mean to say, i don't mean your obvious occasional big purchases, the loan/tax/insurance payments, and/or all the tax that goes to uncle $am on ur short term flips.buy everyday or weekly expenses.for me lookin at my debit card $100 there and $200 there most every day of the week at home depot and sometimes as much as $900 in a single purchase (2 oversize carts); that's over $2,000 a week! 

Your split doesn't seem bad because new agents take a lot of time to train.An investor getting licensed to do an occasional deal is different than a profession as a career.

I was hoping that there would be someone who owns their properties out of state through their LLCs that would be willing to chat with me occasionally as I get started.

It should clue the occasional real estate/finance practitioner into doing some more due diligence.

That is what a conversation is, people occasionally saying things that weren't asked for ;)

I believe the cash flow/yield in many of those areas(maybe all of them) would be better than in NYC.You can expand your search into the less commutable areas, but if you can stay a little closer to home, there’s value for those occasional property visits you might choose to make.