The project:We are developing a 40-60 unit apartment building in the mountains of Colorado.

The whole purchase agreement process happened so fast I’m still thinking about what I left on the negotiation table!

How you going to make any money w/ 30k IF that left on the table.

I brought up the idea of purchasing subject to his existing mortgage from the realtor who is representing him, but they asked how would we report that at the closing table.

Condo might be good too, right on the mountain.

Given my current scenario with this recently purchased house, if you were going to rent out to the two friends to offset the cost of the mortgage - would you keep things simple and do this "under the table" without all of the legal paperwork, or would you do this "officially" with all the necessary paperwork and legal forms making me the official "landlord" renting out to two tenants.The way I see it is this.. keeping things under the table would make things simple with my two friends and obviously require less paperwork.

With the amount of cash you are bringing to the table this shouldn't be an issue getting a loan.Looking at the numbers you presented it sounds like you are planning on around a $50k renovation. 

Not that it is off the table, just now that I have seen the condition of more than just the section in the photo, and how small it really is compared to others I have seen, I might be able to do both, keep it and open up the layout.  

Again, maybe they just keep ignoring me like they've been doing or maybe they finally come to the table. 

You can move mountains with other peoples money if you know what you're doing BUT CASH WILL ALWAYS BE KING!!!