However the building has very good structural bones, and the boiler system, fire suppression, and elevators are all in surprisingly seemly good condition.  

How do I structure things so that we have as little liability as possible? 

Generally speaking, I want to get an idea on the different ways to structure financing for a particular scenario.

Needed to hire a structural engineer to provide framing plans since we are moving load bearing walls to create the open floor plan.4.

Would greatly appreciate any experienced investors advices on finding and structuring jv partnerships? 

Cleaned up land and Structure What was the outcome?

The biggest thing from my perspective would be creating a recorded legal agreement between you and your friend detailing the exact details and structure of the investment together.

@Zachary Scott IMO, I believe this could be pretty subjective but I think it would depend on your comfort level and risk avoidance regarding certain things, e.g. rancher on a waterfront lagoon in terms of flooding issues, age of the home and potential termite issues resulting in structural damage, roof condition and what could be underneath of it from leaks.

I can contribute time and energy to find deals as well as I have set up a real Estate structure DW LLC and AZ LLC. 

According to them, it is standard practice to quitclaim the property back to the name of the individual to get financing, and then put it back into the LLC or other structure.