I told my brother to see if he can get access to the property to take pics and get a video so I can have a contractor look at it and get a general idea of a rehab cost before I make any arrangements with the owner of the property to buy it.

I've always arranged them so that the owner gets most of the equity, such as 60/40 or 70/30.

When showing an occupied unit, we arrange a block of time with the tenant (i.e.

And the L&L that sort of resembles that in Hawaii.

@Eric Bilderback I'm sure one of the pros will chime in, but I spoke to @Dave Foster about an arrangement such as this a week ago.

The arrangement we spoke about would be that I would get all incoming cash (downpayment and monthly payments) until I receive my "principal" back, then we would split all cash payments after that at some pre-determined ratio.  

Take them with you to closing to help verify the funds....or, arrange a wire transfer from the bank to the title company per the title company's directions.Now, that's the traditional approach.

Once they have it in place ask them to call you annually so you can arrange an inspection.

@Aqeel Salim have you considered fixed rent arrangements with property managers?

I suggest coming up with some sort of payment arrangement.