I'm assisting a friend who has a contract to buy a non-performing note on a property in the Tampa area.

I am using this person for my non performing notes and foreclosure services. 

It has not performed very well, I should have just invested in a S&P 500 fund instead, it would have done a lot better. 

I'm probably going to need someone as my "boots on the ground" to help with some of the various tasks, as I'll be wholesaling from out of state.My questions is: If my BOTG is not actually a "legal" partner (ie: not a part of my LLC or Corporation etc), but has their own LLC, how do I pay them and what paperwork would I need from them when I pay them a fee for their services following the successful assignment of a property (might be a 50% profit share, or just $1,000 etc)?

A good rehabber will gladly pay for a consistently performing capital provider. 

Initially, investigating the nuances of Real Estate can prove to be a daunting task for many.

;)Finding notes is not a terribly difficult task.

Because of the lower principal amount, the monthly paymentsmight even be lower than before.After 6 months of performance, the investor can sell thenote as a performing note for way more than 60 cents onthe dollar.

Feel free to contact me;Corey WhidbeeTypes of Notes Purchased1st Liens on Residential Seasoned or New Notes2 Liens on Residential Seasoned (Balance must be ½ of the 1 st)Simultaneous Closing on 1st Lien Residential and Commercial1st Liens on Commercial (No 2nd)Portfolios of Performing and Non-Performing NotesTrust Deeds / Deeds of TrustLand ContractsBalloon NotesReal Estate MortgagesFull or Partial Note PurchasesMobile Home with LandSmall Notes- Minimum Amount $20,000 Large Notes (Individual Notes of $1 million +)Account Recievable Funding (Invoice Factoring)Acceptable Types of Real EstateSingle Family ResidentialMulti-Family PropertiesApartment BuildingsImproved LandUnimproved Land Commercial Properties (All Types)

This is where an investor or home buyer in general can benefit greatly from having a home inspection performed by a reputable inspector.