I take that to mean he is looking for more upside than just 10% interest.My realtor (c) said that if the investor put up 100% of purchase and rehab costs, that we should split profits (cash flow and equity upon sale) 40% to him and 60% to me.How does that compare to the other partnership agreements out there?

I find doing an Equity Split (like a JV Addendum on the Sandwich LO) where the Seller PARTICIPATES IN THE NEGATIVE CASH FLOW and receives some benefit down the road.Equity Splits are valuable in expensive markets like SF, LA, NY, etc.Language might be:Ask the Seller to write down what they think would work.That way the seller gets exactly what they want, I sign up the deal, and then I clean it up later (checking with my attorney if needed).An Example:"Landlord to receive 20% of the amount of Net Profit.

I'd like to go via mls, but the commission will just eat away profit.

You could try using several different modified forms of the IRR though I prefer to use Net Present Value and a Profitability Index.

I don't want a fancy car, although I do enjoy hotrodding (build them myself....and then sell them for a profit.....but drive an 8 year-old Neon as a daily, great on gas, cheap to work on).

Tax lien certificates are a viable and profitable strategy if you know what you are doing.

Another thing I find interesting that seems to be missed here....When Joe the Plumber's taxes are increased - who do you think is going to see decreased profit in his "flipping" business when rehab costs increase?

He says you can simply sign a "purchase agreement" with a buyer giving you principle interest in the property, find a rel estate agent, have them list the property on the MLS for more than what your purchase price, and sell, keeping the profit.

The idea is that a landlord should make a decent profit at that price.

I guess I'm looking more for long term profit then anything in the short term.. so definately a buy and hold type thing... thanks again for the help everyone, you guys are amazing.