Or do they share in the profits as well?

Me personally, NO DEAL because unless they're truly ready to sell and ultimately take advantage of your help (investors are problem solvers that specialize in creating win-wins) then you could waste time at a profit margin that only seems like a win for seller and not another investor.I like to keep the ball rolling.

After the deal is done, we split the profits.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

You raise interesting questions re IRS regulations of non-profit corporations such as my condo association, as well as Fair Housing laws. 

@Brian Johnson When you did your profit projections for this property did you project for maintenance cost?

If we took it and wholesaled it then any amount we got we be profit since we wouldn't be paying anything to get it.

Has anyone else noticed that it seems that the people who have the least understanding of money, investing, and profit and loss are bankers???

@David Ruiz You can decide to split the profits however you want.

The Property Management amount is a Guaranteed Payment and is reported on line 4 or line 14 of that specific partner's K-1 with a notation of "A" as the payment type.All other profits and losses for that partner (and any others) get reported on line 2.Do not 1099 the partner.