Both were sitting on the same size several acre lots and were near each other.

The blue signifies the major portion of the house, the other parcel is listed as vacant but you see a bit of the house crossing over. 

I have not seen properties that size offer owner financing as typically sellers want out and to get there money. 

My husband and I started to work in the house to make it look great again and finally rent it, but now that it is almost finished and ready to be rented the 4 apartments, the city didn't give me the permission to have 4 electric meters because they say that the house and the land don't have the enough required size for the new codes to be divided in 4 apartments , so they only gave me the permission for 2 electric meters, and this is a problem because the house is completely divided in 4 units with kitchens and bathrooms etc..  

So I will amortize a portion of the FHA UFMIP over 84 months (the portion that is attributable to the portion of the property that is my personal residence), but what about the remaining portion of the FHA UFMIP, i.e., the portion attributable to the portion of the property that is a rental?  

Wells Fargo will lower your interest rate after a year if you pay off a substantial portion of the HELOC, (at least 10K) then call and ask for a special rate. 60% of appraised value on a rental property and up to 80% on a principle residence.

I plan to deduct that amount from my profit on the deal, but I wasn't sure if I would need to submit some documentation to partner and to the IRS to ensure I do not have to pay income tax on his portion.

And that is what I am trying to do is to finish the house sell it give him his portion and get mine but when he tells me to take the house and shove it up my *** and that I am trying to screw him over when that is the farthest thing from the truth it is kind of hard.

SRI has some useful documents under their documents and links portion.

In my area of California, Sacramento, the appraiser will look at homes that are close in proximity, and similar in size and amenities, to determine the current value of the home.The "flipper" must either be really good at estimating future value, or they need to have someone who can do that part of it for them.