With PACE unattainable and a $300K excess in the "uses" on the proforma to which they had no realistic solution, the developers felt it best that they sell now and allow us to fund the project with equity and retain ownership and control.  

Heat pumps are more expensive if it's just the outside unit that needs replacement.I've had to replace the HVAC systems in more than half of our properties within the first year or two of ownership.

I have the advantage of being the the private mortgage syndication business as well as syndication equity ownership in office/warehouse properties.

The kicker here is finding a cash partner to make it at 50/50 ownership.

For example, "Joe Smith, Trustee of the Mom Smith Trust" shows Joe as the acting person but it is Mom's ownership.

I'm trying to determine if the asking price is too high or am I grossly overestimating cost of ownership. 

I am still receiving prospective deals and they are broken down to fractional ownership in the event the entire loan can't be funded by a single person.

@Timothy WoodlandAsset management is meant to cultivate market value so ownership can increase its returns, whether it has to do with real estate or any other asset.

With a first loan I'm trying to avoid getting anyone tied up in either co-ownership or liens on the property as I suspect that would be more of a deterrent than a sense of security.

I was inspired by blockchain to look into fractional ownership of assets and went down a long rabbit hole of legal research in which I found out a way that I can effectively do an “IPO” for a single-family house, in which they make some of their homes’ equity “public” and get a lump sum of cash through the process.