So if the partnership would not be allowed to purchase the entity together and I were to buy it, if we were to force our way down this road, would be to set up a legal agreement beforehand, I would buy the property since a partnership can not, and then the exchange for  ($$ + assigned roles + etc), my partner receives 50% equity?  

HOA fee's do not just shoot up that high unless there is trouble from a legal standpoint.

In case you have not noticed, our national debt is already out of control, and there're legal limits on additional borrowing.The government has a third option: print more money.

How long does the legal process take, and can we move in and live in the unoccupied floors while the situation is being resolved? 

We need:1️⃣ Guidance on purchasing real estate as a group.2️⃣ Expertise in establishing housing co-ops.If you’re a real estate, legal, or co-op professional—or know someone who is—please let us know.

I just won a bid and I'm refusing to pay them until they give me legal property description and of course it was Lot number 25 in there auction not the actual lot in Cherokee Village for example so I'll be making some calls tomorrow.If these guys are selling it…..you don’t want it.

I think he is a great guy and isn't his first rodeo with investor funds.We can do some legal checks if you want that type of search, lawsuits, prior names, etc.

The best the state real estate commissions have come up with is (1) licensure needed to “wholesale” legally and (2) full disclosure of intent to the seller. 

Besides the failure rate, wholesaling is legal when done right, but most programs teach you to practice real estate without a license which can get you in trouble. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.