I would only consider this method to keep from having to break up the slab to replace a leaking sewer pipe inside the house.The trenching from the base of the house out to the street is not a problem and you end up with thick PVC pipe that will last forever. 

You'll want to decide how the Operating Agreement provides for costs, profits, break ups, etc.It is a pretty simple agreement based on what you've described.

Be prepared for the worst case: big breakup, someone cheats, and you hate each other.

Instead of paying a LS, I can break up payments over 6 months. to help minimize the risk of liquidity, if that makes sense.

I had a broker do CMAs (BOP) and the portfolio has a break up value approaching 8 million.  

Recently tenant's BF broke the lock & handle on the storm door while trying to get inside after a breakup.

It even has narration if you want to break up the pattern of reading with a little listening.

Neighbor tells me that police were called out at 4 in the morning to break up a fight with my guests.  

If one of you wants to take out a second mortgage on it to secure his/her interest, that's fine because it keeps the deal clean and there's nothing to dissolve if/when the break up occurs. 

The price depends a lot on how much pipe you are talking about and how much concrete flooring they'll need to break up and replace.