Most of these guys out there want to do "cost plus" contracts so that you're responsible for all the labor and material costs and they just tack on their 18 to 20% on top. 

Quote from @Joe Homs: @Aaron Wilkins I am not an attorney or CPA, but you asked.Keep stuff in my name so I have more lending options and better rates, including credit unions. 

I am bringing a single-family property located at 1360 Meadowood Dr, Hixson, TN, to the table and seeking a partnership to provide labor, materials, and an upfront investment of $40,000.

Most of the people looking for arbitrage targets look for one-off Mom/Pop outfits that work off some lease they drew up in 10 minutes on Microsoft Word or a notepad, where subletting isn't explicitly prohibited.Because, again: if I have a property, and it can make more money STR than LTR, what sense does it make to give Broke Joe the keys when I can just make the money myself?

Thank you Joe, I appreciate you taking the time to respond. 

@Joe Homs what are the big 3 banks? 

I would side with your wife on this one, I typically tell people to stay out of AC, Trenton and Camden or any D area especially if you're new those properties are very labor intensive 

The settlement was likely to...and ended up leading to a shrinking labor pool for brokerage services.

Flips are labor and time intensive but are good for cashflow if done right but can be difficult for new investors without a good mentor.

Joe