Based upon the cost seg studies of my clients, a building will typically yield 25-30% of the total cost that can be segregated into personal property and land improvements.

If you own cash, then you will probably have to get a loan to buy out the other person (most people don't have hundreds of thousands of dollars sitting around to buy someone out). 

Plus say another 4 feet with the person standing. 

I mean the person whose name its in likely did that themselves!

That's the reason why we sign leases in person, so we can go over the main issues in person and make sure they are understood. 

Personally, we would not do that deal.  

Finding which of those strategies works best for you, your goals and interests could help you speed up your investment journey while gaining experience, confidence and eventually expertise in your chosen area. 

I don't just hand over money unless I have a good respect for the person. 

That person isnt to hard to find.

This is the same type of personality to gaslight you when you don't agree with their view on a deal or something goes awry, gatekeep you from information and deals, and become a resistance force in actually becoming a REI.