Of course, you would plough this back into increasing your equity share.Additionally, your "golden" partner would get all of the cash-flow until a predetermined amount of his upfront capital (plus interest) had been returned.You should be able to plot things out such that 3-5 years down the road you are 50/50 partners.

Did you have a desired percentage of sales price that you aimed for or was it a pre-determined minimum profit?

Realtors also don't add value to the property, but they work under strict guideline and fees that are predetermined.

How can we pre-determine if a property falls under the new HAFA guidelines ahead of time?

That's always in the back of my head, but right now I'm purely in the education phase of my REI strategy and this is one of the best (and fun) ways for me to learn about how the numbers work together in a real estate investment to give us an overall picture of if it would be a lucrative investment or not based on our predetermined criteria.

You could also use 70% X ARV less repair costs less your predetermined assignment fee.

Let the numbers define the best property, not a predetermined type.

If I were you, I would structure it in a way that would allow you to buy him out at a predetermined amount at some point. 

I might try to make a deal with helping her talk with attorneys and getting things cleared up with a pre determined price to purchase while she pays for all of the attorney fees.

That's like saying "I've predetermined that I'm going to invest in an auto company and Ford is the best I can find so I'll put my money there."