Or, can I utilize my LLC in some way.... 

Possibly using a professional third party vendor for the pre-inspection is a great idea, give a copy to the owner and tenantExcessive holes in walls Broken tiles or fixtures in the propertyPlumbing backupsRepainting where a tenant has repainted from the original colorTears, holes, stains or burn marks in carpetsMissing or damaged blindsBroken windows and window screensBroken doors and locksBroken or damaged appliancesExcessively DirtyPest control if you see Bugs and or fleasJunk or trash left behindPast Due rentFees incurred from fines from the association due to the tenants conduct or lack thereofWater damage to hardwood floorsMissing outlet coversRemotes for garage or gate if not returnedRekey of locks if tenants did not return the keysUnpaid utilities, as long as they were part of the lease agreementUndoing a tenant alterationThis is a sample of things that are usually considered to be normal wear-and-tear and should not be deducted from a security deposit:Slab or plumbing leakNormal rug wear.

No matter how much appreciation you see you're limited to purchase price for 6-12mo (12 more common) know as seasoning.

Again, I would run exact numbers before committing.Or d) would you utilize some other strategy that you're willing to elaborate on.

Splits 70/30 very common for experienced operators and I see clubs / newbies going 80/20 or 75/25 to just get some experience going and attract investors in w/higher potential returns for the limited partner. 

It seems as though the most common consists of 12% interest and 3-5 points.

. $2875 in rent BUT with utilities included it's really only $2142 in rents. 

This is a pretty common issue that some firms seem to have figured out and others don’t - I think it’s more person by person.

Just want to make sure I am on the same page...Keep in mind when thinking about property managers, they have overhead of conducting business, including employee wages and benefits, hardware and software costs, utilities and rent for their office location, insurance costs, licensing costs for their employees plus the time and effort put into maintaining compliance with applicable laws regarding third party management of real estate assets.

Business brokerage has more in common with commercial real estate sales where you need to get a commission agreement SIGNED before you send the referral or execute any type of contract.