I read about people doing this, but I don't see anything about how they actually set up the ownership/investments.So here's my question- in these situations, should I try birddogging and give them the deals and charge them a fee, or is that illegal/shady?

These include mortgage payments, taxes, insurance, utilities, and HOA fees, etc. that occurs during the Rehab period and up until the property is fully rented.Are you sure you can get the property Refinance in only 2 months after purchase?  

LLC formation FeesEvery state requires a fee for forming an LLC in their state.If you do business in a state other than the state that you formed the LLC in will require you to pay a fee for doing business in their state.Creating multiple LLC's can increase to the fees depending on how many LLC's you have and how many states they do business in.Regardless you should speak with an attorney on LLC formation.In regards to a state income tax perspective - The aggregate state income tax will likely be the same if they are all disregarded for tax purposes.Some things to note is that some states do require a separate tax return for LLC's(even if disregarded) such as Texas and California.

Will the CAM fees assessed on top of the rent to the office have some operations profit for administering the arrangement?

My first ever free and clear was $23k in '05 bought with a 0% (but 3% fee) credit card check.

I’d assume the include a management fee in there though. 

. $200k minus 2% broker fee is $196k.

You can do it but properly doing it tends to cost a lot on legal fees to do it properly to protect both parties.

Should assignment fees not be reported since your loading your bank account with random checks?

Assuming you have to refinance you looking at fees, will you eventually get 30 year fixed?