I see this a situation of a triage action, you should start at the simplest, least invasive least permanent actions, and as your successfully find non-viable paths (notice NOT failure, just success in finding what doesn't work lol) you move on in the list. 

I am thinking it would be simplest to suggest she bring the $$ so we can close, then have 25% partnership in the property - that way there is no PML payment debt service and she gets 25% of the cash flow and growing equity. 

There are a lot of ingredients that go into the success of a remote real estate investment - a professional, reliable and HONEST property manager is one of the most important.I work with an excellent one, who also does renovations.  

@Dean MalkaCall the permit office or go down there would be simplest thing if online it does not show who pulled the permit

Outside equity capital is a necessary ingredient.

@Brian Tome, the simplest way is to go to a title company or whoever does the closing) in your state and ask them to draft the documents needed to effectuate the agreement you have made.

That is the best and simplest way.

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

Atlantic city seems to have the ingredients of a successful urban district.

The simplest way you can structure this is 50-50.