In my opinion, the 50/50 partnership does not sound like a fair split.From experience with doing hundreds of deals, it should be. 33% for finding deal and loan guarantee.33% for funding.33% for doing rehab/project managementIf you keep the 50/50 partnership, I would think about paying yourself 12% interest as a loan for funding the deal and maybe 2 or 3 points and then split the profits 50/50. 

Though both Fair Housing, and ADA protect the disabled and an arguement could be made that an obese person is a disabled person.

It would be fairly easy to get around that by changing the deed and get my wife off the title.

Fairly sure the answer to that one is: YES!

I usually max out at 60 X monthly rent for a purchase price but I am fairly conservative and need more cash flow because I stick to 10-15 year notes. 

I imagine it is fairly similar to HUD. 

So there should be no such thing as "forcing you into an office" since this might make you an employee vs. an independent contractor - something that most RE brokerages are not interested in doing as it will be fairly costly to them.b) Speak to as many brokers as you can because they are all set-up differently: Some brokers impose high monthly fees because they carry a national brand name, but may have other benefits to offer you such as good lead generations and strong brand recognition.

Everything seemed fairly organized.

I used to live fairly close to old bridge in North Brunswick.  

I do a fair amount of flips on Hawaii but not anything for cash flow purposes.