If I remember correctly, this contradicts what I learned in my real estate classes -- while an unrecorded deed may not protect against third-party claims, the deed itself still defines a legal conveyance of title/ownership.

Make the end buyer feel as though if he screws you over, he may make an extra $20k but he'll lose ALOT more because 1) the pipeline of great deals you were going to plug him into just closed and 2) you know enough serious wholesalers out there that once he rips you off, all other wholesalers will know he's a crook as well.Again it's more of an 'attitude' than it is a 'legal' thing.

First, make sure a business can legally operate in the shop building.

When the buyer has to buy, it has to appraise, setting the price where they don't create any equity based on a future appraisal is predatory, putting the buyer in a position where they can not succeed under the terms set, being predatory, besides having legal issues, such is unethical, not really dealing in good faith.

See, that's the thing, if it's legal here in Wisconsin.

See also:http://www.nolo.com/legal-encyclopedia/consideration-every-contract-needs-33361.html

Whether that will be good for you or not will depend on many things: what happens when a major repair is needed ("reserve funds"), who will do showing and screening when there is a vacancy, banking, tax bills, accounting matters, legal matters ...Better to be informed on those sorts of matters before getting into any more shared ownership IMO.

Since the owner is leaving, I'd try to get title with a Sub-2 and then lease it as that will give you the authority to make repairs, improvements, contract labor, address assessments and any legal matter that arise like code violations.

I need to take a long look at this before I make any drastic, legally-binding decision.

Bird Dog (find good deals for investors- if this is legal in your area)Sign leases for a landlord.