I did a Partnership like this. in my opinion something of a reduced commission say 3% instead of 6% on buy and future sale, still keep it at 10% you 90% him with you doing all the work. and split it 30% you 70% him. 

The operating costs of this house will be reduced by 70+% from where they are presently.  

For tile to vinyl -- you would likely need a reducer molding.

Or at least reduce a significant amount of showings.  

Yes, you could of made way more if you leveraged yourself and yes, the income from other properties could reduce your out of pocket expenses but, that is going back to building a self sufficient rental portfolio.

Monthly cash flow pays for your lifestyle (and your bills) not equity.The cash flow however is very low on these unless there is a way to increase rents  significantly or reduce expenses.

What could possibly be going on? We were in the process of selling our M-Street home in Dallas, Tx and contacted a group of investors beforehand to see if they were interested. Right away they responded and came out r...

If he takes your property off market but doesn't sign a lease, why even reduce the security deposit?

Getting all the cash now or spreading it out over a few years to provide you ongoing cash flow and reduce taxes)-When do you need the sale completed?

You did the remediation to reduce the chance of it happening again, but it isn't guaranteed.