Or if any entity is involved it would almost definitely be a different address for privacy and legal protections.  

I unfortunately cannot qualify for the loan, so I'm looking for a partner to take on the $250k loan and bring $147k of equity.I'd like to structure the deal so that I have equal ownership interest with my partner, but he / she takes the majority of the cash flow, as he / she will carry the debt and bring almost all of the equity.

@John ArendsenIn addition his debt to income ratio is not very good but there is plenty of equity.

On the legal side-If a contract is written up and the MLS states a fact about the house that isn't corrected or addressed you (if all paperwork is legal and properly done) can enforce those facts and have them completed by the seller and enforced by the court. 

I worry about the ones I have debt on.

If I go the small claims route will I be able to recover money that was invested in court/legal costs or just the amount I'm owed?

It's what's left over to service the debt after operating expenses have been paid.Another tip, sellers are generally more willing to finance when the property is in poor condition. 

No legal advice given

Local banks have financed deals for us before but will only do 20-25 year am, and the debt is not non-recourse. 

@Angela Henderson, they just call it "commercial" since the loan is made to a legal person (the LLC) and not a natural person (you).