@Greg Todrank Congrats on finding a property to move on.A question you should ask yourself is if you are willing to accept the current seller as your PM, if he accepts your proposal.  

However I wanted to know what would be the best operating agreement to have to make sure things stay fair.We had proposed $15,000 to close out first deal.

I propose them to rent their apartments rehab them and I re-rent the apartments to final tenants.

Gave me a proposal a few days later. 

Here are the terms of the proposed deal:What I put in/get:- I put in 150k cash- I put in the original idea and there are some legitimately unique elements to the community. - I put in countless hours as the developer working on the concept for a long time I found the site, did a lot of research to identify a unique target market. - I'll be doing everything that needs to be done that my partner doesn't do, including marketing the units, ets., raising additional needed capital from pre-sales and investors, dealing with accountant, etc. - I GET 70% of the company and profitsWhat the builder puts in/gets:- 10k cash, mostly for good faith- The LLC/Partnership will rent his construction company for the duration of the project.

They have been responding to some of the eviction moratorium and proposed rent cancellation efforts.They have created a few good videos and you can find them on you tube by searching for "under one roof ny"Give them a look and support if you choose.

Lastly, I would suggest having many many discussions with the city or the county about this proposed project.

It's not a DIY or a Realtor thing, typical it's just owner and seller and a local lawyer, so the seller does not have to pay a commission to the Broker on the sale.Since the owner has already lined up a broker and listed it, there might be a commission owed on the sale though.You're a clever lady for proposing a deal like this for you and your family.And it might not be the first time that property was sold like this.

I have a list of companies that i want to reach out to and can use some ideas on how to propose myself as the right agent. 

If a proposed tenant had been furloughed and I could verify there employer is bringing them back and they have been there for a few years, I would take a chance provided they are receiving unemployment and they still qualify.