Your assignment should reflect the original agreed upon terms.    

and Finally does the price reflect a turnkey property?

Once the unit you live in has been rehabbed then rent the rehabbed unit (at a rent that reflects that the unit is rehabbed) and move into the not rehabbed unit and start rehabbing it. 

My question is: How do we legally structure the partnership to reflect the ownership (20/80)?

Please keep in mind, this is not an exhaustive list of possible legal repercussions of your proposed business model, nor is it necessarily an accurate reflection of how strict your local enforcement agents are.

Unfortunately if you just look at the data in their web interface, the CC processing or related fee is not reflected. 

Typically the standard realtor contracs are written to reflect local customs and laws

Pedagogical learning, reflecting on mistakes, cataloging lessons learned are how one masters the art.  

Hi @ George Blower, @ Tom Ott-Thanks @ Larry Fried- Thanks for your feedback about JAX, I am currently working with turnkey provider in JAX but their numbers don't reflect great ROI, Its better only in long-term.

It shouldn't really matter if it's occupied or not, because if its in an area with high vacancy, that will be reflected in the comps you pull.