I acted as my own buyer's agent and was compensated for that.

Assuming you have things in writing and assuming you have a formal partnership, and your friend wants some sort of payout then there are many ways to structure their compensation.

I’ve heard very different ways of compensating to Asset Manager in multifamily syndications(assuming you’re bringing someone on to your team).

No PMI, interest rates sit fairly high to compensate for no PMI.

It is also recommended for you to use a contractor for the renovations that fully understands the intricacies of the 203k (HUD/FHA time limes, paperwork, processes, compensation/draw guidelines, repair categories, etc.), such as a Certified 203k Contractor.

Eventually your compensation will increase to match your (increased) value.

If it is annoying you though make sure you are being compensated for your stress. 

Any compensation I offer is declined. i have rented another unit for him to use during the day - not acceptable.

If I was able to find a partner out of state, perhaps a real estate agent, what would fair compensation be for that persons efforts?

So far our compensation has been the sales commission at both ends of the deal ( we are real estate agents) and hourly pay for the work.