I put a note pad on the table and write a nice note telling them how to get in touch with me, and to please let me know if anything needs addedto what I supply. 

From here there are a couple options for a low Appraisal, either the Seller can lower their price to the Appraised amount and the deal will continue or they can ask you to personally bring extra cash to the table in order to close.

I am social and love networking so I appreciate the resources BP brings to the table.

Therefore - your liability should be limited to the amount that you contribute to the partnership/LLC.Whether you feel 50% is fair or if you should be entitled to more depends on what each person is bringing to the table and what his/her level of experience is.The more experience a person has the more leverage he/she has to demand a higher percentage of the profits.A general contractor/property manager with 20+years of experience likely has more leverage than a contractor who is just starting out.It also depends on what you require as a rate of return.

But, we will get the best rates using a conventional loan.My partner does have enough money in his investment accounts to cover the down payment, but what I'm worried about is when he actually wires the funds at the closing table.

Hoping that the brain power of the masses can assist in providing me with some clarity.We have been going through the process of doing a short sale on a ski condo in Colorado and arrived all the way to the closing table to discover that the HOA had not accepted the short payment that the seller's agent had indicated and as such was demanding that the short sale be re-approved with the HOA getting more of what they are due or else they will continue with the foreclosure process. 

I would use your own title company, it's good to bring your own assembled team to the table @Jenny Stallings

@Ricky StaffordUse historical median price table from here.

I have not consulted an attorney, it's a pretty simple transaction so I didn't think it would be necessary to get an attorney involved to draft an addendum.I'm curious if anyone has any experience in adding these types of contingencies to contracts that protect the buyer all the way up to the closing table?

@Johnny Tsu: I'm glad the tenant moved out and you didn't need to deal with it at the table.