I haven't actually spoken with him about how much interest he is looking for or how he would like to see it structured.

He saw the tiniest trace amount of black dots (from shower condensation) and asked if that meant there was structural problems with the roof.  

The outside portion of the brick may be in good condition, but the inside that was exposed to heat may have caused cracking in the middle somewhere.Probably one to buy for the land and location, not the structure.

Any possibility we could bargain with the county auditor for a payment plan and structure a contract of deed or land contract?...

Our goals are mostly cash flow right now.I'm looking to learn more about different investment strategies, how to identify good properties, how other investors structure their asset protection (LLCs vs Trusts vs Umbrella Insurance) and stay updated on trends in the market.

Whether it's a bank, private lender or hard money lender, they should be completely transparent on the fee / loan structure. 

Usually, investors are going to be priced fairly close together because the information is all public....that's why I emphasize considering how you structure your offer.4.

What is the best way to structure it?

I Was pitched an IRA/LLC structure where the SDIRA was 51% and Iowned the other 49%.supposedly this was not prohibited.

As far as your structure, it would be better to have the two investors enter into an LLC as a partnership, with their own operating agreement done up by an attorney.