I just don't think it would be fair to all parties involved.

Zoning appropriate for 13 lots (1+acre) will need 1600 ft of street developed and a fair amount of land clearing (mostly wooded).

When they leave, you will need to re-rent at market price (which may be lower if the supply has recovered).I would not feel guilty charging a fair price to market in this situation. 

They'll want you to have some skin in the game (~15% of purchase + reno) and you may have trouble if you've never done a flip or BRRRR before.My gut tells me this doesn't work as a BRRRR, rent is too low.

So I still have some compensation to cover my costs and time, but Im also being fair to who Im partnered with.

TX = non-disclosure state i.e. assessor makes a "independent" assumption of the fair value of the property and assess taxes on it (in theory).

We got the house at a reasonable price below market value and hope to make a fair profit as we upgrade it!

I’m wondering what percent of a deal is fair to give to him?

The current owner speaks both English and Spanish, so he can communicate fairly easy with the tenants.

Both units are fairly small single bedrooms.