As far as cash vs HELOC, I would use whatever costs the least.If your Cash earns 2% per year, your cost of using cash is $2,000 per $100,000If the HELOC interest rate is 5% per, year your cost is $5,000 per $100,000.Take out the HELOC just in case you need it at some point, but spend the cash reserves first.

I’m wanting to earn some passive income and was thinking about rental property or maybe a flip.

How would I write up an operation agreement that would list: no taking out money until amount goal is reached, how to divide earnings, who will control of operations and costs to maintain business  etc..

I have a bachelors degree but not in anything involving real estate or other high earning field.

As much as I enjoy learning about real estate, it has me interested in earning a B.S. degree in Finance with a Real Estate concentration.

How much can you earn by selling? 

Should I try to pass it onto another person who wholesales so they can work out the numbers and maybe earn me a little knowledge and maybe even cash for passing it down?

The average annual earning for stock over a 100 year period is said to be somewhere around 10% to 12%.

She cannot negotiate or act as fiduciary - she simply communicates the facts to both parties, which includes material defects, etc.If you want full agency representation, perhaps your broker would split the earned commission with a licensed colleague (her office or another) and have the colleague represent the buyer? 

And that verbal statement is good for the duration of that phone call, that's it, if uploading a W2 and bank statements is "too hard" for someone, that just means they aren't buying real estate in California, and that's ok with me, my landlord clients need renters and I'll indirectly realize some earnings that way (insert evil laugh here).By convention, preapprovals are good for 3 months.