We would sell after rehab then split the profit based on an agreed amount/%.How would you structure this contractually? 

It is not cheap, but the idea is to generate interest.

I am very interested in investing in real estate, especially in Indiana and with Indiana companies.....but I must confess that I would not know much about putting a hammer to a nail or what the best way for profiting from my investment (like selling it or renting it).

We anticipate receiving a gross sale amount of around 155k; however, the net profits will not be this much.

Technically, you are not actively working with clients, but you can refer people who are looking to buy or sell to an active agent and get a 25%-30% referral fee on any commissions generated.

It comes down to what revenue you could generate with the land that will determine how much time/resource you spend.

Say, if somehow I found a multi family property with 300 units by the beach, they will lend me millions of dollars to buy it as long as the property itself generates satisfactory returns? 

Short term is to own one and gain real estate experiences, hopefully can make some profit at some point (not necessarily today) to acquire more cash flowing properties.

I'm not sure Zillow understands the reality of how competitive it is to find houses that make a profit.

Competition is moving in and there's no way to escalate more rent.The 1031 tax deferred exchange will allow you to defer paying tax on the profit while letting you sell those properties and purchase other investment property in a better location or of a better type for your cash flow.Good time to move now.