Looking for Advice on Structuring a Deal

[Joel Douglass]

BP Family - long story short, I am working on trying to structure a deal on a 25 unit mobile home property. It's not a mobile home park. Each mobile home is on it's own separate piece of deeded land.  The property is 20+ acres.  The property was for sale, but the deal doesn't cash flow (at least where I need it to) at the sellers bottom line price.  After doing some digging and trying to be creative - the owners are willing to consider a partnership.  They want to be hands off, and want me to buy in on the deal with cash.  

They've asked me to send them an email on what I'm thinking as far as a partnership/buy-in.  If anyone has any experience in something like this, I'd love to hear your thoughts.  They want to exit in 3-5 years and I own the property (obviously taking over the loan, etc.).