We want to go for another real-estate investment (we are doing buy and hold..buy low, renovate and make them short term rentals on airbnb in Ocean City, Maryland).

He doesn't have a vast amount of knowledge but definitely more than us.We know a few things have gone wrong in his flips, therefore he can teach us the basic of Do's and Don'ts.My wife and I would like for him to team up with us by providing knowledge.He would not have to do the hands on but just guide us through the process step by step, we are willing to put in the work.What percent should I offer from my ROI?

If you are driving distance from a major city (or major cities like we are -- LA and SD), you'll have a better chance with a high bedroom count home. 

We are considering to hire a  reliable leasing agent at least for tenant screening, house showing and ect.

We are looking at self-managing so that should help with expenses.  

@Kyle Miller there are some that are really changing the game and as others have said they often operate at a loss to gain market share, but with Technology changing, we are going to see changes in the space.

LOL, we are on the same Wave-Length, I am confident we will get a good response.

We are looking to eventually quit our jobs and give back to the community.Our tentative plan once we feel comfortable is to flip a few properties and eventually own rental, multifamily, or single family homes to replace our income to build passive income. 

We are doing very well with TK in Indy...

We purchased the house under a LLC, and we are both members of the LLC.