I am a newbie with not much rehab experience under my belt (yet), so not sure if I'm ready to jump in to something this large! 

As you get experience under your belt you will make more money.

Now, with a property under my belt and something to write on my resume, Im concentrating on value-add projects.

TLDR: I have a few deals under my belt, some good processes in place, but I am not making money and I don't know how to go from 3-4 deals a year to 3-4 deals a month. 

Once you do cut your teeth and get your rehab experiences under the belt finding equity partners and even HMLs at lower margins shall be a lot easier.  

Those alone are worth the value of a good college education.The one thing I'd suggest you do is when you buy your first home, make sure it's one you are not going to live in.Live with mom and dad for a couple years or rent a cheap room from some buddies to get by, and get that first house under your belt if you can.Many people buy a house, then have to make payments and realize they don't have the cash to invest because they bought a house which isn't providing any cash.Good luck. 

With that said, this will result in a 60/40 equity split; obviously, our investor in control.We have been involved in REI for 11 months now and have one SFR under our belts- which happened to be a home run.

, to fund the rest of your rehab - and they take the property as collateral if you default; (2) go to your local REI, build connections, tell every single person you are looking to flip a property and that you will bring them the deal and split the profits in exchange for their money and experience; make them feel your passion and energy; depending on the person, you might get 50% profit if you have it under contract, perhaps lower - asking for anything over 50% would probably be offensive;(3) Use your own money.You need to seriously get creative to get a few deals under your belt and develop your lender network (this could be anyone, friends, family, HML, private lending).

I figured I'd let him have first-look so he can get his first flip under his belt.

I really think a real estate license is just another great tool in your "investor belt" to help people solve their problems and the MLS access definitely give you an advantage over people without it.