You value the business based on X multiple of current revenue plus a certain amount for "goodwill" or strategic purchase if you have to.  

@Michael Keane, It makes a huge difference strategically. 

The idea of fractional ownership development, especially at the shore, is something I have been formulating in my head for almost a year now.

Do you have any recommendations of formulating the deal?

Defer taxes and buy me more time to pull cash out elsewhere or strategize.

Cleaning up the exterior, planting sod, and strategically cutting down trees in the front and back yards added significant value.

Find the property, negotiate the contract, do the due diligence, develop the strategic business plan, bring in more experienced property managers and raise capital from investors like yourself (limited partner) to share in the profits.  

A strategic means of getting into an investment is to evaluation which option works better.

It can sometimes make sense to have your LLC's in both your names anyway so that you can "strategically" explain to the tenant(s) that you are NOT the owner.  

I've had several strategic sessions with @Natalie Kolodij and she "gets it".