If they agree, ask them what their terms are ( 50-50 split, their price plus whatever you want tack on top of it etc) Have them send you a JV partnership agreement and then start calling and looking for buyers.  

Check it outI also am in partnership with family members  of leased out Commercial business.  

I look for what is at the bottom of the real estate cycle and what I understand.Then I either try to by myself or I do a syndicate on a property or partnership.

It's not that hard.You don't need to be an economics professor to start out with, you do need to begin by understanding the functions of economics to understand how valuations are formed for anything.

We have a hard money loan that we are refinancing with our husbands - the property has been rehabbed, its just not selling.  It is a unique property in Galveston and will take some time to find the right buyer.  Hinds...

I have a Spanish keyboard and this feature does not seem to function.

You just need to spell everything out in advance.The problem I see, is the dollar amount you are talking about will severely limit you in both buying power and length of time to go from deal to next deal.I would suggest that if you are looking to invest, and already contemplating a partnership, instead of going in on a new deal, go in on an existing one.  

How long will the property be functional without significant improvements?

That can backfire on you if you don't truly have a partner, your partnership needs to be established prior to contracting.

The seller told me he looks at it as a partnership.