If I could figure out answers to all that (I have control issues after watching family members struggle in business partnerships that started great but ended badly), I'd still want the first $1200 of rents each month so I'm guaranteed a return on my investment, then I'd take the rest of rents collected, pay the expenses out of that, then split that balance 50/50.  

But it does not make sense to pay 250 for every title search before bidding for the houses we can't guarantee to get  in the bidding war..

Most of my projects are GMP (guaranteed maximum price) and run in an open-book format which gives us a lot more flexibility to tweak things.  2) What size of projects are you doing and how many at a time?  

There is no guarantee, whether I have the funds MYSELF or not, that either of us would want to buy the property.  

They offer a 30 day money back guarantee.

Agree to finance for a term certain, guarantee interest income that makes up on the price.Good luck :) 

Thats why I have started using the smart siding which has the same guarantee.

Also, I have access to hard money and I can virtually guarantee that we have some of the best rates in Houston.  

Since there is no personal guarantee with non-recourse loan the down payment requirements are higher, usually 30-50% down depending on the location and property type.

One of my mentors picked up their first major property with owner financing while searching for potential deals to assign, then chose to rent out the 3bed out as 3 student housings.Can't guarantee it would work in your situation, but it might be worth considering, at least.