You will have two separate K-1s as you are each individual owners.  

Of course could be a little different but thats generally how it  all works.

from my advice rural properties and developments aren't successful and you are climbing an uphill battle. sounds a little niche. we focus on developing and not reinventing the wheel. if this is truly what you want to focus all your time and energy on then visit the closest 5-10 of these that look like the ones you are interested and ask if they'd expand or build a secondary one. do a lot of research before you just take action 

I already have 5 rentals jsut trying to scale  little bit.  

The question is, what is the intention  of the owner, not what would a reasonable person think is the intention of the owner.

I am cold calling owners and they are just laughing at me with my offers at 8% caps. 

A little like tunnel vision, I suppose.

Ask to speak with some of their current owners and current/former tenants.

Imagine a 4bed/2bath home with a small ADU in back, a converted garage with a private entrance, or a three-level home with a basement that can be converted into a private apartment.You can get privacy and house hack, but it takes a little more effort.

I contacted the hoa about fixing roof asap and also other owners nothing been done yet till today they keep giving fake promises. anyway, the tenant seems wanting to take advantage of the situation she called me once qnd said both her son and grandson slip and felt and she called ambulance and they are ok.