I am not a no money down kind of guy.

@Rick Baggenstoss  I grew up in Glenn Garry glen ross my dad was a land man just like Al Pacino... and Jack Lemmon would have done better if he did what my dad did.. my dad bought a printing press and I had to make door hangers after work then on weekends I had to put them out door to door.. so my dad got 20 leads a week and did not use the company leads like everyone else.. soon was number one then in 2 years started his own company... thanks for the memories.. my exerpince with this company is on the front lines one of my vendors bought a property through these yahoos  total fabrication on the rehab and resale value these guys are ruthless in their approach and in my mind have little concern other than to make a fee and move on totally CAVEAT EMPTOR if working with these folks..

@Nathan Estochen it also depends on the contract you guys signed.

I met with the guy in person the weekend after and asked him to give me a more detailed estimate (at least the high ticket items).

What do you guys think about my terms and how should I structure this?

@Matt Faix @Roy N.Thanks guys!

I've been involved in this business for about 2 months now, and my business partner (The guy with more experience) have two properties under contract as we speak.

Thanks for the feedback guys.

What do you guys use?  

I'm a full time IT guy that has purchased, rented, and sold a handful of properties on my own over the last decade.