If the partner has, say, a 25% equity stake, does that mean they'd get 25% of the cash flow from the property?

@Craig Bellot - would you say a referral is the best way to get new tenants? 

You can learn as much from what they don't say as from what they do.

specifically I was thinking about general cost on plumbing and drains on a 50x150 lot w alley sewer access and say a 30x50 or 30x60 by 6 inch thick concrete slab.

I'm not going to say a judge here would laugh at you, because that is not true.  

Also, I would think that you won't be able to charge as much rent as say a 2 or 3 bedroom duplex.  

But is say a general ballpark would be $20,000.

So setting up, let's say, a Delaware LLC, when you live in CA, probably won't get around the CA LLC tax unless you argued to CA that you run your business our of DE and pay DE taxes.

It doesn't meet my goals of how I want things set up.I was curious if other syndicators put a stop gap in of say a minimum of 300,400,500k to invest in their deals?    

Can I have her stay for 2 weeks for an amount that I come up with thats MORE than just 1/2 the months rent (say as like, an inconvenience fee), If both her and I agree and sign papers stating so.