Plus, you'll want to create an upfront operating account of 1% to 5% of the purchase price to cover unexpected expenses before you've accumulated enough money for the $250 to $300 savings.For SFRs or smaller multifamily, as you said, it depends.

And that part is pretty simple if I was going to buy the property.

& now I have a buyer who would like to purchase commercial property to operate their business in.

Well, real simple.

Is it possible to take a regular washer / dryer and put a coin-operation part on to it? 

Partnership operating agreements are very flexible.You could do a waterfall schedule for both allocation of income and capital distributions.e.g.1) You're allocated a cumulative fixed annual return on your unrecovered capital contribution (6%, 8%, 10%, you name it)2) Profit in excess of the fixed annual percentage return is split 50/50.Capital distributions could be something like: first distributions are to recover your capital contribution(s), then preferred return accrued to you, and finally the 50/50 profits.Food for thought. 

@Matthew Paul the GC my company hired does not operate that way.

Would we have to be equal partners or could I be majority owner as I would be handling the majority of the business operations?

Something simple and clean is like $40.

A "simple" split in my county costs about $5000 (most of which is for surveying and plats) and takes around 4 months to complete - so not bad.