. :) Staying in that comfort zone is what allows you to control risk. 

The reason I recommend using partnership is to control how the income hits your 1040 schedule E.  

I honestly don't think it is justice for me.www.housingjusticeforall.org/goodcauseIf this goes through basically if you rent anywhere in NY, you have no control of your property and you are allowed to raise rents no more than 3% a year.  

You can get into trouble if you split up water bills among tenants with no control over use.

I GC myself for the extra income and to have more control over the timelines and quality of my projects, but I do envision a day where I simply hire out all my projects and focus on continually finding bigger and better deals instead of getting bogged down in the minutia of GC'ing. 

It would also be helpful if I can control it remotely through my phone. 

Are there any specific street design requirements, DOT requirements, permits or traffic studies. 

(He very brash and aggressive and wants to control the conversation)My assumption is he’s tried to sell the property before and was offered 80K because he keeps throwing that number around as what he would never take.He claims it’s a 3/2 ranch that’s vacant and sits on 5 acres of land that he owns free and clear of any mortgages or issue with liens or taxes.

I wouldn't make any investing decisions based on waiting for anything outside of my control.

Or are you looking to use a lease option strategy to gain control of a property from another homeowner?