Do it the wrong way and you could lose money and friendships.

I stuck with the lease and what was in writing, still ended in broken friendship.

The majority of the developers and big players all know each other and there's a lot of trust and friendship throughout the community.In your situation, I'd just be up front with your investor friend and ask him or her how they expect to cut you in.  

This is a business not a friendship so work the numbers and be a business man.

And, I look forward to the possible friendships and/or partnerships that I may forge along the way! 

I'm here looking to build connections, friendships (perhaps partnerships), and to learn and grow every step of the way.

Don't use your friend's services next time around, but this time around you should think long and hard if $3,600 is worth losing a friendship after you told him he is part of your team.

Anyhow we just wanted to say hi and can't wait to meet ya'll and build some long lasting friendships.

That may test your friendship, so predetermining it early will help mitigate any bad feelings because you agreed and put it on paper.I would also recommend adjusting your splits on a deal by deal basis. 

Good idea Mark... although I'm not an advocate of doing biz with friends in this nature because foreclosing on him would can the friendship if it came to that.Hey Travis - What if you simply found the property via Craigslist or Zillow yourself, approached the seller via phone call, door knock or yellow letter, and structured the lease option so that you get some down payment (3%) market dependent as your fee and your buddy can apply the rest of his cash toward fixing the property?