That doesn't relieve you of the need for all of the correct documentation notifications and information your accountant will need to fil the form 8824 at the end of the year. 

We were both relieved when we ended the arrangement and it took us a while to get back to the old ways.Let me ask you this: What happens later on when you have enough experience that you no longer need your friend's expertise and also have enough experience to make larger margins in your flips?

I can buy the idea that he just started a business & is trying to get a footing. 

Any idea on what would be the per sq foot construction cost for this project?

One of the major issues with Zillow is that their Zestimates often rely heavily on a price per square foot basis, which can be quite inaccurate.

There are nice restaurants 10 minutes away by foot, and a developing scene.

Any ideas on cost per square foot?  

But our product was/is nicer so we are out selling the other developments regardless of commissions offered except Lennar as they are hundreds of thousands cheaper for same sq foot.. and I think my wife double ends almost half our sales..

About 950 a square foot for 1500 ft.² nothing of homes it’s absurd.

Even If there is no requirement for a medicine cabinet I might move it to the side on the left side, And have a mirror cut to fill the entire back wall up to the 7 foot mark if possible for tall people.