It's possible to team up and for me to teach you how to do them as a profit split if you are interested and if it's legal in NV.

Aside from the extra paperwork,CPA fees, LLC annual fees, bookkeeping wise, it's pretty straightforward.Finally, you need it for banking purposes, so each entity has its own checking account, so each business would have it's own profit and loss.

On the other hand if you purchased wrong your debt repayment and expenses could show no profit. 

They should not use any third parties nor should they assume the property is a Turnkey because the photos on the MLS look good.I would check out:The Best Types of Markets for Profitable Turnkey PropertiesandWhat to Ask When Working With a Turnkey Provider

I am fine eating a few thousand up front to benefit in the long run, but will still need to sell my house for a profit (let's ignore whether or not I can get X dollars above what I paid just 6 months ago).

I've been slowing moving more assets to cash, to be in a better place for when assets are available at more profitable prices - things like turning off dividend reinvestment, and slowing down my accelerating of debt repayment in favor of holding the cash. 

Typically buying them between $10K-$20K which means you would need to pick them up for less than that to make a profit.

Very clearly define the profit split in the GMP contract.

We look for owners who want to sell their land below mkt and we get there first and make a profit buy selling it well priced and quickly.

Therefore, it would not really have been a $20K profit.