In the begining just do what is simple and what is average in that neighberhood.  

I think it should be pretty simple.

Alternatively, if you wanted to keep things simple, I think it would be fair to push for an additional 5-15% split as a result of your role as a loan guarantor.  

Doing your homework is important, but the process is pretty simple and straight forward if you ask the right questions.If you want any help exploring all of your options, please feel free to PM me.

what should a person like me, in his teens do to start in real estate?

In most cases, when real estate outperforms other investments it's a result of significantly above-average appreciation (the best case of that is of course when you're able to buy a property significantly under market value).Let's use a super-simple example.

Hi All,I'm looking to purchase a number of smallish rental properties and I'm curious as to the general consensus (or rules, as it were) to the incoming rental checks -- do I open an escrow (or simple checking) account for each property or one account for all properties?

I converted a simple IRA from a previous emoyer to a self directed ROTH IRA with checkbook control.I had to pay the tax due upon the conversion.

Don't need anything too complicated as I only have 3 rentals and have been doing it with a simple word document.

Paying yourself out of the LLC is completely ok and simple.