I was leaning toward using an HML in exchange for a percentage of each deal for the duration of our partnership...

The rules as proposed seem to make things functionally intractable.  

Jonathan,After replying to your post, I used that infamous search function.  

(Not the cosmetic kind, the utility/functionality kind)The idea to have about a CFD/LC is that you are purchasing the real property where a major portion of the interest of that real property has already been given away (to the Vendee/Buyer).  

I have also found a couple people who are interested in a partnership, so I'll continue to look for my first deal.

Ana,It's not so much a function of how much time you spend at each location.Rather, the IRS is concerned more with the necessity of having each location and what work is being performed at each location. 

This could pertain to partnership; accounting practices; rent collection systems; ANYTHING organizationally that will positively impact our business :I'm looking for as many replies as possible as : Thanks in advance !

After reading something @Dawn Anastasi wrote, I added my name as a keyword search, then, when the @ function isn't working, I still get notice someone mentioned me.  

A solid value / price is tough to gauge Anthony Gayden  without any of the other answers because creating that number is a function of what the market can bear (rents), what you will need to put into it to get a solid tenant, and what you can convince the lender to assume.

The big difference is feeling uncomfortable at family functions if a deal goes poorly.