I think people should get paid fairly for their work, but 10% on a deal that size is excessive.  

He said he has a buyer who has the excess cash to spend on it and can afford to absorb the associated risks.

Do you have enough excess in your HELOC or do you have other sources of money to cover near-term capital expenses?

If you had reasonably good access to capital and a very talented construction/maintenance team at your disposal with excess time on their hands, would it make sense to start flipping houses?  

The do this wierd kind of accounting where they first adjust it against the rent , and then if there is excess left they will send you the balance later etc.

Section 8 is none of that.. and you run the real risk of excess wear and tear as many section 8 is single mom multiple kids.. and they are just tough on houses..

ORC 5321.16 - Any security deposit greater than $50 or one month's rent(basically all security deposits) whichever is greater shall bear interest on the excess at 5% per annum and paid annually by the Landlord to the tenant.This only applies to amounts greater than one month's security deposit, so if I make my security deposit equal to one month's rent, there is no interest to be paid?

I have a family friend who has excess cash from a small business and is willing to lend to me for RE investing.

If I have a tenant for 7+ years, I don't charge them anything unless I have to remove personal items or trash out of the property or do excessive cleaning.

I did my due diligence and pulled the taxes to make certain nothing excessive was due.