They may not be okay with the property essentially being 100% financed.

So essentially you buy a fixer upper and renovate it but within 60 days you have to occupy the residency.

Essentially got my start a few years ago, purchasing a single family home, putting some reno love into it, and getting a tenant.

The commissions are usually paid by the seller (and built into the sales price so essentially passed on to the buyer that way but technically debited to the seller).

After the sale took place, escrow refunded the deposit to the original buyer, and I took some of the proceeds from the contract sale and added to the refunded escrow amount, essentially doubling his investment in one month, an incentive for leaving the escrow money with escrow another 30 days.

Did I expose myself to too much risk while he essentially incurred none?

Ideally we would get an attorney to draft up the specifics of our arrangement but things that we are unclear about include things like, who should take out the mortgage (both names v.s. the one who can get the better offer), what documentation is essential i.e. equality/partnership agreement.

We are essentially saying the same thing. 

Essentially do you have the resources for the rehab?

If they stay, you are getting, essentially, market rent without laying out reno costs.