It is normal to have 6 cars at every booking for our PF cabin so the likelihood keeps going up that someone would want one as EV's become more popular.

I keep track of what I spend on materials pretty close, but I use excel.

We keep in a bank account an emergency fund of 3 months' expenses for all rentals.Financials: We currently own a primary and 2 LTR single families.

Cashflow is basically to keep the lights on while your equity is growing.

Often times when people put manufactured home on lots they sell the manufactured home itself but keep the land and rent the land to the home owner. 

In fact your agent is required by the Code of Ethics SOP 1-13 to tell you that the seller and listing agent will not keep the terms of your offer confidential.

and keep the loan in his personal name as some do?

I think not.But a golf cart with less safety features, uncapable of traveling speed limits on roads, no doors, children often traveling without car seats or boosters (that people spend hundreds of dollars on to keep their kids safe in the car), kids/teens/drunks driving illegally, etc.It's providing a vehicle for use, even if it is a "golf cart."

Better yet, have an attorney draw it up since he will know what questions to ask you two. commissions are earned and should never be put back into the project your partner will owe personal income tax on it.. if you want to get a credit for it.. you have the seller lower the price by the commission that is how you handle that.. if its to late then its his money and he should pay tax on it and keep the rest.

I tried to keep it as simple as possible without leaving out to much info.