Reading (and rereading) your post helped us definitely understand the logic better.  

To reread the book by Brian Tracy "Million dollar habits"6.

I just reread my post and I am afraid it may not have the correct tone to it.

Please reread my post...I never stated to over value the property in any way (which is what you are alluding to)...as a matter of fact that is not the right thing to do and will usually just bite you in the end...because they can't refi for what they owe you when that time comes (potentially).

Btw Tim - After rereading, I think this post came across a lot more obnoxious than I intended...I apologize if it came across that way...I should be striving for a more civilized debate...I'm not trying to be a jerk!

He is going to shoot me further details as he gets them, hopefully if we both go into a deal we may have a stronger position with regards to voting.I'm guessing a commercial RE or business broker may be someone I should speak with.AndrewEdit: rereading your post has me wondering if we are speaking of two different ideas.

I went back and reread your post, and there is nothing in my post I would change.  

On re-reading the topic, I had one more thought.

Since he wants to arrange the sale of real estate in expectation of a fee/skim, then maybe you should re-read Exemptions from license requirement – M.G.L. 87 QQ in Mass and pretty sure you need to be a principal or atty or have a RE license.If he wants to engage in the fantasy of saying he's buying, the tell the REA you have PoF, E/M, are taking title and a GFE from a lender.Principals (buyer or seller)Negotiating loans secured by real estateProperty managers while acting under contract with property ownerA licensed auctioneerDealing with securities or beneficial interests of a trustPublic officialsAn attorney-in-factAn attorney ONLY in the normal performance of their dutiesA receiver, executor, administrator, guardian or conservator0.

Re-reading my post it sounds like we are ready to jump off a cliff, we are exploring other paths to reach our goal.