A single family home 4 bedrooms & 3 bathrooms 2,140 sq ft, unfinished basement, 2 car garage, pole barn with additional 2 car garage & 8 dog kennel, updated appliances, roof in great shape, well septic & 2 acres.

Additionally, his equity split is Investor Equity (80.0%)Sponsor Equity (20.0%), is this also typical? 

Thus, if you ask your employer to withhold additional amounts for the rest of the year, the penalty can be retroactively eliminated.

Get your lawyer to adjust the terms to include additional partners.Never operate any partnership without a legal binding contract.

I had an engineer over last week who told me that in order for my retrofit to be code compliant (Chapter A3) we will have to add an additional shear wall under the house, which will be big $$$.I'm currently working through my options, and was hoping to get some insight from the forum on what my best path forward is.1) Do nothing and leave the house as is.

Your funds are deposited into a trust account from which your monthly payment is then made, and the excess funds then remain in the trust account until enough has accrued to make the additional payment which will then be paid to reduce your principle.

I am with @Tim Swierczek here - tenants are not going to pay the same amount of rent for unit that they also have to pay additional utilities. 

Keep talking.I will mention - I don't understand why the pref model isn't the exclusive model of choice.

It's the largest group on LinkedIn that is exclusively focused on mobile home park investing.Mobile Home Park Academy - https://mobilehomeparkacademy.com - This is the educational site that's run by Kevin Bupp and Charles DeHart.

With regard to paying people to stand around, my thinking is to start with a part time employee with the intent of within a moderate amount of time ramping it up to a full time employee and perhaps 1-2 additional part time employees.