With the non-recourse loans in commercial multifamily come variable interest rates, balloon payments, etc, in much higher percentages than what you are likely to find in the single family and (extrapolation) the small multifamily markets (1-4 units). 

You could always create an LLC between you and your cousin... just determine ownership percentages (ex. 50/50).

@Bill Rich As far as I know, the HID “$100 down” is only on a very small percentage of HUD homes, and is advertised as such.  

@Wes Barnes - ROI is calculated as a percentage.

You’ll save a few percentage points on your rate, and you don’t have to go through closing twice.

And what is your ROI percentage or is that the 5% for cap ex?

The lender will offer a loan that is a percentage of the purchase and a percentage of the rehab OR a percentage of the after repaired value (ARV), whichever is less.

I'm slowly trying to learn about retail and office, in order to diversify out of multi-family or even transition totally out of it.I don't know him personally, but we have spoken and I always see his excellent posts....but,I imagine, the good brokers, like @Joel Owens , build relationships with other brokers, investors, and businesses that are always looking for space...I bet he also, gets involved locally and meets other members of the local community and are constantly networking and trying to build and strengthen their network, in regards to commercial spaces.The right broker, that is competent and concerned about adding value to a transaction, is worth the percentage they are asking for...usually.

In terms of percentages you would be doing about the same as the stock market and in the stock market you do not even have to hustle or risk loosing your hole mortgage.

What percentages should I be shooting for?