We're also trying to think through the other implications around taxes, insurance, etc.Key Points:I have an informal business partnerWe both have LLCs He is a General Contractor that performs the work under his company nameMy LLC is in place but all of the properties are purchased under my name because I must personally guarantee the loansI handle all of the finances, accounting, permitting, deal analysis and all of the other desk jockey workHe handles day-to-day project management, hiring of the subs, material procurement and other GC activitiesProfits are split 50/50 with some adjustments made based on individual capital investmentsI essentially receive all proceeds from the sale of the homes and write a check to his GC company for the reno costs and his profit shareI have a full-time job with an income/credit sufficient to allow me to purchase homes to renovateHe formed his GC company ~1 year ago and does not have sufficient proof of income to secure loansI think those are the basics for what we are doing. 

This is happening at the end of the month and without giving us as the landlords a proper 30 day notice.I'm taking a closer look at a copy of the least we had the tenant sign, which we procured from here on BP, and I'm realizing there is no verbiage requiring that tenant's give a 30 day notice prior to moving out of their property. 

I am focusing on procuring Multi-Family but open to Commercial Business as well.  

In my state, I read that owners are exempt from state procurement laws.

@Chris Clothier   seems with your size of company you could have a hedge fund procurement division thereby saving said hedge fund the learning curve and get a quality product.. and it would mean less marketing cost for you so you could give them a volume discount that made it a win win for all...  

This goes specifically to "procuring cause" and I would find this clause hard to enforce...but I'm not in CA.

Also my brother was a procurement specialist for the Air Force and we discussed.  

Someone upthread mentioned that Branson has had STRs longer than the booking channels have been around, and that illustrates a point related to this: in the olden days, when you'd look up a vacation rental in the classifieds, people were more tolerant of the idea that they were sort of borrowing someone else's house and things might not be completely perfect and they'd have to procure their own supplies, but these days, the booking channels have created almost hotel-like expectations.

@Alex Martin a dual agent is never equally agent to both sides especially when their interests are clashed.From your story updates, I guess the agent never signed the exclusive right to sell agreement but rather exclusive Agency (he gets the comissions only if he procures the buyer).

The general fee for procuring a tenant depends upon the type of property.Typically, for commercial properties a syndicator could charge 5% to 10% of the lease amount and in residential anywhere from the first weeks rent to the first months rent amount (or more).Property Management: in order to ensure that the property is being managed and operated efficiently, you want to hire a property management company.