My Thoughts -If Ownership is a Luxury Item then it should be very profitable to be a Landlord of Affordable HousingIt should be profitable with solid margins to Buy Slumlord Properties and Convert to Pride of Ownership RentalsIs there a Dark Downside of being a landlord in CA if > 50% of residents are tenants???

Much less headache and effort and you make up th 10K in profit in a couple of years anyway!

In the beginning I thought about partnering with a contractor, however, there will not be much profit to split with such a small project.

Agree w Bob on this one...I have 2 units up there now and I’d say 10-15% of them or less have generated warm leads.  

Income generated on property used for agricultural purposes should be minimal.

Or do they share in the profits as well?

Maybe it's a generational thing, maybe I'm a jerk, but I love working with +50!

Me personally, NO DEAL because unless they're truly ready to sell and ultimately take advantage of your help (investors are problem solvers that specialize in creating win-wins) then you could waste time at a profit margin that only seems like a win for seller and not another investor.I like to keep the ball rolling.

After the deal is done, we split the profits.

You raise interesting questions re IRS regulations of non-profit corporations such as my condo association, as well as Fair Housing laws.