If you have a 3rd party PM do they use a trust account or do you write the checks and pay the bills? 

This gives both parties the opportunity to test each other out (I recommend 4-6 months).

Tenants in Common(TIC) - both parties would be on title and there is a TIC agreement that shows ownership percentages.2.

Your labor is not included, so all you can claim is materials or costs paid to third party contractors.

@Steve Do If I'm not too late to the party, I'd be happy to chat with you about this.

the potential issue with you is that this is a related party. 

And yes I know, you are not the type of family.....but if someone rents the place for a party and does a decent amount of damage. 

There will be a third party being brought in as a debt partner who will eventually be bought out.SO, you’re saying that if someone brings a down payment and I run all the operations and essentially manage the property I deserve less ownership?

How do you guys think I can/should put this together in a way that can be both something I put out there and make available to interested parties, but also protect the fact that I put all the work into figuring out how to package it up and make it work in terms of financing, zoning, constructing, etc?

FHA appraisal came back VERY low and all parties thought poorly of it.