I want to partner with someone who's equally as committed to this as I am.

Some buildings also implement rental surcharges to discourage rentals, equal anywhere from 10% to 100% of the monthly assessments.  

All things equal.

After expenses you would do well to make 10% on your money on a 120 days flip, equalling a 30% annualized return.

His checks every month equal anywhere from $2500-3300 after taxes and health insurance. 

I talked to my bank, I don't have a pre-approval per say, but I have a great relationship and I can get a 50K home equity loan (against my personal home, long story, bankruptcy and house going back means no conventional financing for a few more years) at around 4% for 15 years equals a monthly payment of $370 a month. 

Then other do not meet educational requirements,do not renew in time and on and on.My stat was for every 5 agents you had maybe 1 deal was closing that month.So 50 agents equals maybe 10 deals a month at 300 which is 3,000 gross before paperwork,time managing the agents,having a building (which I didn't it was virtual),and admin staff.When you take all that away the return was very minimal in my opinion.So I have around 8 agents now.I have been paring down and not accepting any more agents for years now.I am the qualifying broker and owner so yes I do my own deals and have agents under me.I acquired my agents license in 2004 and my brokers license in 2007.

Lastly, and equally important:you are best being known as the property manager NOT the landlord / owner.

So if you used financing for your 70% partnership stake, you get 70% of the NOI and need to use that to pay 100% of your financing (possibly approaching a DCR less then or equal to 1).Banks/Lenders want to see that they are making a safe investment.

Of course tax deductions are a big part of your reasons to invest They would equally apply to any leveraged property.