Some of the simple financing deal structures that I have read involved something like 100% financing from one (or a group) of partners in exchange for x% interest and the first position on the lean or 100% financing in exchange for 50% equity (split with the buyer/manager of the property).Our deal is probably going to be somewhat different.

I'm a small fry compared to B2R and such... and the reason my two flippers use me consistently is because there's no paperwork involved...

I still need to get more involved in RE and will probably keep a few rentals along with doing some flips.Congrats.. and looking forward to reading about your next Success Story.

Very good points on the expenses of operation and the time involvement. 

On an Assignment, you are not physically doing a "real estate transaction" although you do have contracts involved.  

The biggest drawback to low income landlording is how time consuming it is, both collecting rent and more hand holding, and more involved move outs.  

No business partner or will anyone in the future be involved in this.  

What type of property was involved (apt, commercial, storage units)?

I would think a site like that would be ideal for all parties involved in real estate investing.

There is nothing wrong with charging a non refundable application fee.There is time and cost involved in processing a tenants application.