@Scott PassmanRent = $2100Monthly Cost of Mortgage, Interest, Taxes & Insurance = $1750/moUtilities paid for by tenantManagement would be $100/mo but I don't plan on paying a property manager as there are already tenants in the unit and I live fairly close, so I can swing by for any repairs.Maybe im being to naive and it could be that the insurance goes up from what the lender estimated, but those are the numbers I am working with now.

I live in Red Bank and grew up in Fair Haven. 

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff.6.

I have some people(who have skin in the game) who have offered to go through places with me, which is nice too.     

I would like to do fair by the owner, but my profit margin comes first!!!!

If you sell you will loose quite a bit in agent fees and you might never buy again in a prime location like Mountain View, You seem fairly young and have long investment horizon, if you are able to hold on to this long term you will most likely reap the benefits like its doing for @Maria D.   

@BOB CRANEY Here's a link to MD Fair Housing: https://mccr.maryland.gov/Pages/Housing-Discrimina...Familial status is a protected class, so even asking if the applicants are married could land you in a world of trouble.I think @Marc Winter's idea of "jointly and severally" language makes sense, but I'd check with a local attorney to be sure.

 There are many different ways to create a business model I would definitely make sure I understand all the laws and regulations such as fair housing discrimination fair credit reporting act and local property code before you go down this path you may be creating a lot of extra work in a lot of potential lawsuits and litigation if you’re not versed on the laws that protect tenants  I would just ask yourself what the goal of the reason you’re doing that is if it’s to save a little bit money or not deal with an incompetent property management company then you may want to change companies before you go through all of this work just as a side bar of what you’re trying to do

Real estate commission will be reduced due to my wife being a realtor.I am trying to figure out a fair deal for the owner of the lots whether it be a flat % return, a partnership split, or another type of agreement. 

As for physical property, if you live in or near an area that's reasonably affordable,has a good economy (for example if 80% of the town works for one employer you might want to stay away from there) and has fair laws pertaining to landlord/tenant issues I would look into actual property.