First, it is important that you exclude the agent fees from the partnership and just count that as what it is: a Business Expense regardless of who the agent is.For the partnership structure, I'd suggest you split the profits (keep it simple):60% to you40% to your brother Overthinking of it or by saying you are doing all the work may come across as being a little interesting (nicer word, lol).

All in all it seemed like a pretty simple  process.

If im being nosey, you dont have to answer im just trying to guage the possibilities.Since im a stickler for details and making things simple- search for distressed properties, so i have a valid reason to offer below market value- try to get my seed money back with a bit of a profitWith distressed properties.

Is it simple enough to buy the property under my name and then transfer the property to a legal entity like an LLC?

I wouldn't necessarily call this a simple situation but I'd see what you can do to mobilize a team on your behalf.

Here's a simple example: You buy a rental property for $120K and hold it for ten years then sell it.

A simple formula I use is ARV(After Repair Value) X 60% that's how you calculate how much you should offer on a property.

In the beginning just keep whatever you do is to keep it simple.  

To keep it simple give back the deposit.

Let the ARV be the filter, not how much they owe on it.Excited for you taking action, don't want to see people lose their shirt on deals because of something simple.