Being that I had no "skin in the game", I offered to manage the project from start finish and take a smaller percentage than the investor( I.E. %30 for me, %70 for the investor).

While you may loose control over some aspects of the day to day operations and they cost a percentage of your rental income; i dont see how you could do without them when deployed.Personally iv thought about taking things a step further beyond just a generic property manager running the show.

There are so many rehab/construction issues with properties built before 1960 (let alone just after the Civil War) that I wouldn't come close to it...especially with the rent only $700/month.This is where estimating rehab based on a percentage gets REI in big trouble. 

Think about the greatest players to ever swing a bat and look at their percentages.

You should be able to setup a reoccurring payment that takes the percentage out every month of what is coming in. 

Though from what I've read the area is improving at a steady pace (Riverwest).Do you have a normal percentage you estimate on homes built pre 1950 for capx?

Lots of STR apps charge a percentage of revenue, if their service touches that end of things at all, and I find this a big turn-off.  

In my experience it is illegal to receive a percentage of the sale of real estate without being licensed.

@Tison VelezHi TisonI am thinking of paying into Zillow, how much was the percentage you bought?

Hi,I have a triplex under contract with a purchase price of $212.5K and $8500 seller closing cost assistance (he struck the percentage and wrote in that number instead).