Don't be lazy taking short cuts thinking you can wheel and deal like some used car dealer, RE is not a used vehicle, it is not just a widget.

A conventional realtor is just an expense that cuts into the profit so there's really no need to deal with them on most deals.

I feel like offering him a cut of the pie can keep me at the front of the line when it comes to getting my job done first over somebody else's in the hopper. 

I asked why he was selling and he said he does all the property management himself and wanted to cut down of his rentals and live off the sale and cashflow from the remaining.I drove home excited because I felt this was it and I was going to make him an offer that night.

I think your already being extremely generous allowing rent to be paid on the 10th.  5th of the month is my cut off point and I assess a mandatory $50 fee for paying late.  

They would just cut the voucher amounts the same percentage and screw the landlords. 

I was thinking that maybe an additional "master" with a private bathroom that you make by cutting into the space for the living room.

Cut, bust and re-pour bad areas.

That way, people will know what you expect up front and will take themselves out of the process and saving them the fee if they know they won't make the cut.

The friends that buy them did so 3 to 4 years ago for high 8 caps in good areas and with cutting utility costs etc. pushed to over 11 caps.