Other than the main structure of the building most other things inside could go either way. 

And if that $2080 is being used as down payments and leveraged to buy real estate, that means I have just gained an extra 10,400 - 20800 worth of real estate ..I see this as a simple example of an actionable step to help people towards financial freedom.I am currently applying this in my own path to financial freedom.Would love to hear other peoples perspective and opinions on thisWhat are your thoughts and methods to achieve financial freedom?

As partners we are looking at about $40k total profit or $20k each.If I were to partner with the guy, how would you structure that agreement?  

Anything can make money if purchased at the right price and structured properly.

My question is - how would you structure a partnership with a non-value-add deal that produces $200/mo on a ~$26.5k down payment?

Teresa DelaMater there are multiple ways to structure your agreement.

Get some good legal advice on the structure and you go create that community. 

This structure will let you capture the capital gains on the land thus far without it triggering capital gains taxes (assuming you don't trigger any of the limitations on the sale of your personal residence, or the gains are more than the exclusion). 

So structuring the deal like the sale of two of the houses would pay for my mortgage, real estate commissions, demolition and construction of the project, etc... and the rest would go straight to the partner.

Bottom line is I prefer to invest money rather than hoard it.My method is as risk adverse as paying cash for properties but far more lucrative.