Typically you are buying these turnkey properties out of state.

We dont own any parks but we have about 20 cash flowing mobile homes in parks across the valley.We have a really cool set up from start to finish that we are continuously working on but this is typically how it goes from start to finish. 1.

Typical Miami crap. 

@Paul LaSpinaI think it depends on the level of trust you two have, how the voting power is divvied up, & whether or not YOU feel a 50/50 split is fair.We syndicate large multifamily apartment communities & typically raise over 1MM from our passive limited equity partners.  

You'll also work out with your PM what types of repairs they can do and then inform you about, typically attached to a dollar amount, e.g. you may authorize them to make repairs up to $250. 

We get to benefit from much higher rent demand and lower taxes in Indiana than Illinois our typical turn key is about $90,000 to $125,000 and rents from $1100 to $1350 There is a lot of opportunity with all the railway and airport expansions in this area and we are seeing retail housing jump 10% plus.

Safe typically entails little to no opportunity for loss.

What is a fair/typical % to apply as credit toward purchase price?

You will see that there are short periods of depreciation (typically less than 5 years) but in general the chart will show ever increasing RE prices.  5) Do not fully discount equity pay down. 

That is because commercial leases are typically negotiated for much longer terms, often with renewal options.