If he's regularly innebreated and already not respecting the boundaries you have set forth, kick him out NOW!  

Maybe you could hold out for maximum profit on each deal ($30,000 should not be a goal), but why not find buyers who buy regularly, give them a property that is actually a deal, make your money ($3-6 thousand), and have them coming back for more in the future.

There is a firm here that regularly offers "1% - $300" co-op on sales less than $100k - they might as well say no co-op at that point.  

Upon completion of the investigative process, the investigator or attorney will prepare and submit a report to the Commission for presentation at a regularly scheduled meeting.

If you are the owner of the property with others doing the growing you have to be sure that they pay you regularly or you will evict them, often you will be the last to get paid as they need to pay for utilities ($10k+ mo.) and the cost of labor and supplies to keep the operation going and making $.I've heard that store owners and production companies do much better financially (in Washington you can't grow and sell or make edibles, there are 3 different licenses) they have less overhead and less risk of issues with the crops to contend with.Good luck!

Sidenote, never ever base your financing decisions off what it would rent for as an AirBnB.. lots of folks in my market getting burned real hard right now for doing just that, after the city put the kibosh on short term rentals.. if it doesn't make sense as a regular rental, don't do it. 

The owner would like $1,200,000 and will carry a note for $1,000,000 - $1,100,000. he ideally wants $200,000 down.As with most new investors I do not have capital for that type of down payment.A liitle about myself:I work a regular 9-5 job and also have a realtors license I have done two wholesale deals in the last couple months since starting to devote a couple hours a night to investing.

Also dig into the condo docs as sometimes there are special assessments that can come up from time to time beyond the regular condo dues.  

Is a  home inspector a must or a regular contractor who can tell me how much the repair will cost?

This is mostly due the size, as a lender we are qualifying the building's ability to repay not your personal ability to repay.However, if you have good income getting a regular commercial loan secured by the lot shouldn't be too big of a deal for a community bank or portfolio lender.