In Missouri, if you manage property for a third party for a commission, then you need to be licensed and working under a broker with all money running through the broker.  

The gentleman that was helping me came up with a higher number than I did for the rehab costs but we agreed to split the profits if we could get the wholesaler to make the deal a win-win for both parties.

Check BNI international or a LeTip (professional networking associations) had great experience with some BNI folks before.

I feel like the most important part is to have your boots on the ground to figure out what the sub markets are that you like and don't like.

I've worked as an acquisitions manager and project manager for a professional flipping company.

I think the inspection would be more objective by a neutral 3rd party.

If not, what the tenant agrees to pay an RE agent is purely their prerogative, you're not party to their contract, correct?

    - you will need professional liability, and workers comp., that you may or may not need       for a different type of business.Hope that helps. 

If this is a non- prohibited arrangement and thus allowed, how long does it take to set up the self-direct fund and do I use an attorney, my investment company Merrill Lynch or some other professional?

That part I get.