What I was going to propose to him was that we both are on title to the property, he'll wire the money in straight to the title company on the day of closing, and on the back end, we split the net profit 70% to me and 30% to him (even playing around with 60/40 which I think is more appealing to him, and I'm ok with).

The ARV you describe above has a market exposure restriction that might not be concurrent with the marketing times at the moment or in the future date proposed.

I need some advice on a counter proposal and also some terms I should include to allow for the appropriate fix-up, protect me from improving the house and then being accused of 'violating the lease' and retaking an improved property and keeping my deposit.

Recently I had sent an Investment Proposal for an off market property to a local HML.

If it's to conserve time, you should have a proposal prepared anyway-true?

I set up a kitchen lease two months ago, similar situation.What I see is the need for deep pockets and a deep operating organization to take on such a ventures on any scale with out of town owners.Are you proposing running the F/B or going in, advising and leaving after setting it up?

In addition, if the proposed instrument of conveyance is to be executed by an officer other than a Vice President, Chief Executive Officer, or President, a certified resolution authorizing said officer to execute on behalf of grantor must be recorded.

This is the very sort of blurring of lines that I believe new legislation in the U.S.A. has strove to clarify there.

This is specific to the electrical drawings, but feel free to propose your own solutions to the problem.

After a year, I would be in a much better position to finance the property and purchase it from the seller while keeping my tenants in place.I would initially propose the same 16K sale price, 350-400/mo rent (considering the necessary repairs I will need to make) and 100% of rents going towards the sale price.