Rental profits will more than cover my needs but this is an insurance idea in case the market turns south.Any particular things to watch out for?

I'm well versed in most of the trades, and plan on taking on most of the labor for the first few flips, until we can gather enough profits to start managing the work, in place of doing it all ourselves. 

If I found a property that was a good deal and the numbers came in right to make a profit after rehab, could I use hard money to make up the difference in cash I don't have ?

He is offering a 10% return or 20% of the profits for this investment.Would you say that these are adequate returns for the risk that I would be putting down? 

I believe that when you buy right, you can invest profitably in any market, at any point in a cycle, with any pending legislation.

If marriage breaks down, we have a murder-suicide pact.My advice is to give up your dreams of an equitable separation of profit between the two of you.

Some of the main points (all of which are availalable on this site/podcast) were the evaluation of purchasing a property and making a list of all items that will eat into your profits. 

I’ve talked with a couple folks and friends in that biz about profit sharing or straight rent on the commercial space.  

We agree that the margins are tight, but according to the long term outlook, profits increased, so holding it seemed to be a good deal, but again, the area might not call for the type of increase the deal analysis is dictating.  

When you purchase a property, there needs to be A LOT of equity so that your buyer can purchase from you, pay for rehab, and still have enough equity left to be able to sell at a profit.So, if the value is $100,000, you buy at $50,000 - you sell at $60,000 - your buyer spends $20,000 to fix it up and they sell it at $100,000 meaning they can make a $20,000 profit.