Under Florida law, the buyer can legally transfer his or her rights in the pending sale to an independent third party.Which means, the deal may go through with a buyer who is different from the one who signed the contract (the assignment provision in most standard contracts also contemplate whether or not the original buyer will be released from any liability under the contract).  

I am contemplating investing for the first time in a real estate venture.  

Theres so many other factors as well but if the deal is good and you can afford to hold for the time you need its definitely an option...Are you actively offering or just contemplating options?

I wanted to get a feel for how others have structured their partnerships that may be similar to what I am contemplating on doing for the first time.

You really gave me a lot to contemplate!

I could see this potentially helping if one wanted to put in a specific amount of equity for one  to cashflow with plans for selling the other in the future or something... but still  contemplating the idea!

Just stumbled on this thread as I contemplate the same question, did you ever go through with the conversion? 

@Matt Stricklen I've been contemplating the same question, but from the hacker side of the equation more so, and I think I've worked out some ways it could work in an equitable manner.

I am still contemplating doing a rebuild on it myself (it is a fire damage home), but I have been doing rehabs in the East Coast this summer.

If you guys can't be nice to one another, we'll just not allow political discussion.I've seriously contemplated barring the topic from the site, as it ALWAYS leads to problems.The last thing I want to see while fighting the flu is this bit of drama.So, do me a favor and knock it off.