Some investors / flippers of very inexpensive vacant land do self-close, where the cost to close with a title company (most often requiring that you purchase title insurance, which comes with a minimum cost just for issuing a policy) approaches or exceeds the monetary value of the land. 

It is only for suits involving monetary damage. 

I would not think flipping first either, it's a rabbit hole and with no money, your options would be hard money which is a hard ask right now for first timers.

If there are things of value - monetary or sentimental - then I may choose to haul those to storage.

I welcome everyone to poke holes in my ideas/assumptions/situation/etc.

It's an unfortunate truth but you are going to have bad partners and it's always best if that partner doesn't share the same blood.I think you are digging yourself into a deeper hole by believing that he will pay you back one day to become a true 50/50.

I would want that to stay with the buildings at no cost, so I don't have to plug holes or get into litigation on your seeking cost recovery.Those and more questions as to the type of lease.

We moved into a new construction house and have had multiple sewer smell issues but never consistently, one took a year to figure out...basement bathroom someone drilled a hole in the drywall (basement finished after moving In) behind toilet to run cold water line but hit the plumbing stack and cut a hole in it.

Extra mortgage payments go down the money hole, only to be seen again after a bunch of unknown possibilities.  

Take advantage of the search bar and go down some rabbit holes.