It feels like they've arrive, sort of thing. 

With a Cap rate of about 6.5% for the market I arrive at a purchase price of no more than 285000.

I had to order a VIN plate for the MH, have it inspected and wait about two weeks for the title to arrive.

It is apparently a program in which immigrants are vetted and given employment upon their arrival.

Once the other party has also put 60 000$ in the property, they will split everything 50-50 but the person managing will get 10% for managing fees.Both really want to go forward with this deal because they recognize the property is sold at a good price, they are very close friends and want to arrive at a fair proposal that both can agree on.

Your missing a lot of info to arrive at your cap rate and rate of returnYou need to add insurance, vacancy rate, management and a small cap ex eventho your spending $50k on rehab. 

I say this because I am amazed at how many people want changes in themselves or in their businesses, and yet they expect it to arrive through the exact same avenue that they've been doing all along.

Normally landlords would collect deposit before handing in keys, but it was Saturday when we arrived and they allowed me to move in.

Since it's a learning experience, perhaps you can look at how your partner arrived at value.

So if inspection reveals immediate 30k of repairs in the next year then deduct from say 247,200 to arrive at a 217,200 offer price.Many more variables and I can go on forever but this gives you the basics.