I think, theoretically, I like the idea of taking the construction headache off of my shoulders and having a vested partner take on that role, especially if it means equal risk exposed in the deal (him with construction costs and me with other financing costs).

@Puja Shah lots of good adviceand just something so think about here: “never exercise the option early”great candidate for a LOC with a local bank.

As a landlord, you know that verifying your prospective tenant's income before signing the lease is a crucial aspect of background screening and can play a huge role in business success.

Economies of scale play a huge role.

Your exit strategies also play a role in how you structure the deal.

Make sure he has an active role in the decisions, even if you have the final say and you can make day to day decisions without consulting him.Is the property tax assessment in line with the market/up to date?

Marco Kozlowski will play the role of coach/ mentor and make sure everything will be done right from the purchasing to running, upgrading and selling the park and will be entitled 40% of capital gain!

I think as long as the owner suspects illegal activities are going on in the house that they could exercise their landlord right to inspect the property as frequently as they see fit.

I have been passionate about property management since I was in high school and have been very successful in my role. 

It sounds easy enough with having two contracts and I'm sure some renters just won't exercise the option when it comes time but to the landlord that isn't necessarily the worst thing.