@Michael PlanteCurrently the motive for sharing profit would be to ensure they find a deal that they personally believe is great.

I know eventually I’ll get through this, learn some lessons and find a better and more efficient way of doing things cause once you go through it the next time you have some experience under your belt.

There are some things you can potentialyl break out so make sure you have separate costs for materials/labor for:Land improvements, paint, flooring, appliances, blinds- there are few other more specific as wellA good REI Tax Strategist can help ensure you get the most benefit from your renovation

MHPs are one of the most tax efficient real estate assets and taking this step will allow you and your accountant to have an accurate assessment of value when depreciating at tax time.  

With either one just be completely honest with the seller that you will potentially be brining in a partner and/or assigning the property to ensure you have the most efficient process so you can get this deal done. 1.

Here are some examples:Schematic Design DevelopmentDevelopment of energy-efficient features that are uniqueDevelopment of elevated drawings for planningDevelopment of plans that meet specific/unique load requirementsUse of Alternative materials that meet certain requirements or improve design.Value engineeringDesign that is sustainableEnvironment designNew material testingEnvironmental impact studiesDetermination of substitute HVAC systems or improvements to the systemsDetermining alternative structural designDeveloping or improving lightingHave you utilized any R&D tax credits?

My partner has software that he pays for that will plot the most efficient driving order but I haven't found that worth the trouble.

Good list @Jill F. and great call on estoppels--very important (this is to ensure that the rent roll and security are accurate).

Baylee,Reach out to me via email and i will get you started and ensure you understand your options. 

@Monica Ponton Ensure you have a due diligence contingency in there to give you time to walk and inspect the property.