We explained to her there was a button on the wall to open the garage door and she didn't need a remote to get out.  

Would the following distribution be fair  or  competitive in the market (I know this depends on the people, but I'd like to poll public opinion)Bob- 10k at 50% for doing all the operations (buying, rennovating, selling)sally - 2k at 20% capital contribution (20% of 50%)Joe - 3k at 15% capital contribution (30% of 50%)Eric - 5k at 25% capital contribution (50% of 50%)

Other than them checking a website your advertising on for comparisons on rents that they may run across,  I doubt they would care or be interested in what you are getting income wise until it is time you may consider selling.Good for you if your able to command the higher rent rate for similar unit that is above the competition, they are either lazy or out for coffee.They don't have access to income tax records.They can look up  public records for property tax amounts and payment history and property valuation per city assessor.

He has an old list of rental properties which are not on the MLS and has offered to go through them and find interesting deals, where there would likely be no competition (or much less).

I will say, there is a lot of investor competition, most of it is newbies who don't really know what they are doing.

Looking for lender recommendations with competitive rate and can close in 35 days or so. 

There is a lot more competition now. 

Research what the competition is including in rents and what is being passed onto the tenant.

I am however, optimistic that the election will discourage competition for now as I am the only offer at the moment. 

I am not active in Wake county, but a quick look at active and pending trustee sales shows the market is still competitive and volumes are still reasonable.