Leodardo,If the two that want out do not want to be on a mortgage, then:  1) Sue and Sally sign RE sales agreements for their interest in the property for $ x each. 2) Joe and Jane sign THE sales agreement and agree to apply for a mortgage of $ 2x in Y days and close with Mr Lawyer in Z days.3) Joe and Jane agree on how the title is to be given at closing. 

Can you say that if the total water for the entire park, or whatever bill, is between x and y then $whatever of the rent is applied to this bill, but if the total bill is above W then there will be a surcharge of $Z? 

Or, give him the opportunity to leave by x date, or pay by x and leave by y, etc.

I have started creating a database for each property/unit to track information about that unit such as:AddressUse (residential / commercial)TenantRentLease on file: y/napplication on file: y/nWater Utility Account numberLease expiration dateetc.Does anyone has something like this that they use and would like to share?

ie, Our past projects, Project X, came in at $X million, Project Y, came in at $Y million, Project Z cam in at $XYZ million. etc...The GP side must have some depth of experience even if you are new at it (???)

Would focus on the following:Zoning, special/conditional use variance process, planned zoning, Engineering- building, traffic, soil compaction, water flow, Permitting, fire suppression, fire hydrants, storm pounds, storm sewers, ADA,     Governmental- soil erosion, floodplain, wetlands,Leasing, NNN, CAM,     Valuation approaches.  

@Jamane Y. 

Due diligence would consist of lease review and confirmation of CAM and other expenses, which these would be the only deal breakers. 

@Dawn Young - Sorry for all the posts but I wanted to add to your list of possible expenses:Engineering Fees, survey, local entity's application fees for development, building permits, parking lot paving (some areas require pavement rather than gravel), stormwater permit fees, stormwater ponds (the design is included in the engineering fees), underlying soil corrections if your property is on peat-y soils or poorly drained land, wetland delineation, building structure engineering, worker's comp insurance if you hire someone (probably not in this scenario), legal fees for an attorney to write/review your lease, legal fees for attorney to guide you through the process of eviction (often called a 'lien sale' in SS circles), landscaping buffers (yes, I've had to install trees to buffer vehicular traffic - that reminds me, one of those trees are dead and I need to replace it. 

When writing your offer, regardless of how much you are asking the seller to carryback, and assuming you're getting 1st TD financing, the way to write the offer is the ask the seller  in a separate addendum paragraph to cary X$ @ Y% interest for a term (pick the number of years with our without a ballon) which is "Subordinate to buyers other financing at the close of escrow".I structure it that way so I have flexibility in how the senior debt is stacked e.g. bank 1st TD, HML 2nd TD (to improve and payback relatively quickly) and the sellers.