It's actually pretty simple, but you just need to know what you are doing at each stage.

If you found a four-plex that needed some work/rents were low/run by a mom & pop operation ect....you may be able to get seller financing from the owner. 

Simple resolution: you reduce the purchase price by whatever the (missing) AC units are worth to you, and the seller does what he/she wants with the insurance claim, which would be their money anyway.

Interested to hear ideas regarding how to structure a partnership correctly so it is win/win for both sides.We are young and able to act as the "boots on the ground" to handle all the day to day operations of the property, including management/tenant issues/repairs/etc but we lack the necessary capital to get into some of the deals we want.

However, this is subject to change depending on which market you operate in.

@Nate Stitchell it is more of an "order of operation" game than anything.

I’d be a hypocrite at that point and I have a higher authority to answer to . .. and Really Your not fooling anybody because it only takes a simple online search or call to the tax assets office to find out who actually owns the building even if it’s in a llc .

We wish it was that simple.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

To those asking about enforcing contract rights, there is a simple solution.