I have a good relationship with zoning but we have an unsophisticated council who strictly adhere to guidelines outlined in their Comprehensive Plan and code book, both of which limit C1 uses to restaurant/retail.

While a detailed contract is essential for outlining the loan terms, a lien provides the legal weight needed to secure your claim on the property.

definitely, get a forwarding address at all costs and outline in detail how he left it and what he owes so you have that paper trail(certified) and move on as others have stated.  

If I want to set them up with assets, I'd rather invest the money according to my strategy outlined above and pass it on to them, or gift it to them, and then invest it on their behalf.

Hey Lucas, I've learned a ton of lessons, most of which I outline in an above post of 13 questions I use to vet sponsors now.

Then, talk to a real estate savvy CPA who can outline the pros and cons specific to your situation of going forward.

Would something like my outline below make sense?

I've done one like this and we created an LLC, outlined an operating agreement, etc. 

no, gross. if you have zero leverage you a net 50-65% depending on many variables. as an example the michigan str is averaging 30k and we net 20k with no leverage.we have two in myrtle beach sc and they do about 140k combined and we net around 80k with no leverage as there are a lot of fees and community fees etc. really need specifics to give you a accurate outline and projection

I haven't seen anything that dissuades me from the opinions outlined in my original post.