I'd never invest for the potential of appreciation alone, it's a silly gamble.  

@Brad Fausett - Personaly I'd be thrilled if they were SEC 8.  

I'm Jennifer Stanley and I am thrilled to be learning so much about REI.  

As a MHI I would be thrilled to have a deal like this but I would never encourage a first time MHI to go it alone.

Lastly, this amateurish notion that appreciation is merely whimsical speculation, fitful gambling, etc. has been debunked many times on BP.

Although none of us were thrilled about the idea of pets, she had been in the property for a number of years, pays on time and cuts the grass.The upstairs tenant has recently moved out, and we are rehabbing the upstairs unit, as it was very dated and we'd like to get a little more in rent.

If your partner would agree to a 60/40 split in his favor on the initial property, then you should be thrilled. 

Not to mention the thrill of the cavity search applying for it. 

Second, the judge looks into their finance and see they don't have anything or much, and may give you the win, but a much less amount to give them a chance not to be homeless or whatever it may be (this really depends on the laws of your state and the judge, too many unknowns IMO to gamble).

Spill the beans as to what you want AND the funds you have to close with.The agent will NOT be thrilled it you're looking for Wholesaling or Creative financing, but if you can close on a normal commercial LTV, you will be days ahead of other contenders.