@Jonathan TwomblyWe have requested the insurance documents and also requested an insurance quote to see how we compare.

Although this partnership is a good fit on paper, I would highly recommend that one's partnership somewhat compliment your personal investing style.Sometimes, that polar opposite creates a good balance; but also it challenges.I am providing this post mostly to share my personal observations and also, because there are equally as many request seeking partnerships and funding.For those individuals, I submit that that partnerships with colleagues, family and friend inherently involved possible nuisances in operating style, priorities, and realistic timeframes on the amount and division on your net return of investment.In summary, think, plan and have those discussions prior to forming your partnership, funding etc...these are just my thoughts in hindsight.

A look at cap rate and gross rent multiplier to see which is the better way to estimate rental property value and measure financial performance...Financial Leverage Financial leverage explained and how it can impact a real estate investor's returns and profitability...How Financial Leverage Impacts Real Estate Investors The impact positive leverage, neutral leverage and negative leverage have on the yield a real estate investor collects as a result of financial leverage...IRR, MIRR and FMRR The formulations for internal rate of return, modified internal rate of return, and financial management rate of return...Scenario Analysis The scenario analysis is explained so you know how to use it to benefit your next investment real estate evaluation...Sensitivity Analysis Changing one variable at a time over a possible range of outcomes in order to evaluate the effect of that change...ReportsThe Comparative Market Analysis How to correctly create a comparative market analysis that you can use to effectively estimate rental property value...The Proforma Income Statement Learn the what, why, and how about the proforma income statement and it's popularity with real estate investors...Why Real Estate Investors Like The APOD Discover why the APOD is used by real estate investors to examine the annual property operating data of potential real estate investment properties... or watch the video.General4 Contingencies Your Offer to Purchase Rental Property Should Include Contingency clauses common to commercial and residential income property that protect investors who submit an offer to purchase investment real estate...Are You Profiting from Your Property's Highest and Best Use?

I did look into this.My understanding which may not be correct is that you have to occupy at least 50% percent of the space as your business.As for selling off the business after you have bough the property but keep the building that is interesting.I guess it would all depend on what loan covenants exist in the SBA loan documents you sign at closing. 

If the borrower is able to document (per the table below) that the rental property was not in service the previous tax year, or was in service for only a portion of the previous tax year, the lender may determine qualifying rental income by using Schedule E income and expenses, and annualizing the income (or loss) calculation; or fully executed lease agreement(s) to determine the gross rental income to be used in the net rental income (or loss) calculation.

Did they show you any documentation that it is a real service dog?

You can phone and email contacts to get things done, but its obviously much harder to hop a domestic flight to pay a visit and shake hands, walk a property, sign closing documents, etc. 

I am more risk adverse so I would not count on long term appreciation with a negative cash flow property especially in DC/NOVA...there is always a ceiling on how high the appreciation can go when you are already starting out with average home costs for a basic house that needs heavy cosmetic rehab funding on top of the over $350K - $450K house in an Ok area of DC/NOVA.I submitted a Freedom of Information Act (FOIA) request at the County Code Enforcement office and got a list of blighted (Vacant) and other code violation properties.  

Where can I download the actual document I use as an option to purchase from the seller (which I would shortly thereafter assign to my buyer)? 

We were approved for FHA and were told that the 203k loan just takes a little bit more documentation to complete.