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No Soup,
If you want to purchase propeties with someone else's money and have little or none of your money at risk or in play, you are - in my experience - unlikely to find anyone (short of a wealthy and trusting parent) willing to invest. Whether you like it or not, your unwillingness to put up any significant money (or subject yourself to significant liability by signing a note or guaranteeing the note) sends a message to the investor that you are not that confident in the project and/or your ability to make it a success. The investor will also have the concern that if the project becomes difficult or looks like it might not do well, you will simply walk away and leave the investor holding the bag. After all, the investor will surmise, if you have no risk, why would you continue to work hard to make a faltering project work? It is for this same reason that banks also want to see a borrower have some "skin in the game."
The only way I can see you finding investors and making money with your proposed business plan is to simply take a flat "finder's fee" for delivering the opportunity to the investor (who will purchase the property himself) and a "management fee" for managing the rehab and leasing of the property. Certainly takes the risk away, but not a way to make any REAL money. Depending on your state, you might also need a realtor's license to get the fee.
Don't know what DDDDave's opinion is, but suspect he will have a similar view based on his earlier postings.
-BCD
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