If we follow the 70% rule of thumb, we'd have to make some assumptions on repairs, closing costs, and what profit you'd want to make, then look at the data available to give yourself an ARV or market value. 

As long as you are extremely confident that the model is based on realistic assumptions, then the Springing LLC wouldn’t come into play. 

I appreciate all of the guidance on the shortcomings of relying solely on the listing agent and the faulty assumptions about the benefits of doing this. 

Experienced professionals will let you know if the deal has any flawed assumptions and if there's room in the deal for your exit strategy. 

., if one person dies, the other person needs to be able to say "hey I own part of this property")Other assumptions:     -Down payment would be sourced 50/50, though each partner can front this themselves and be paid back at a later date (i.e., an individual partner can qualify without needing the other)     -The parties are not in any way related, simply business partners     -Both parties have excellent credit, DTI ratios, and W2 incomeOne may say "why not just buy it yourself and ditch the partner if you can do this on your own" but for the sake of this question let's assume partnership is a given.An option I am researching is to have partner A solely on the loan.

Loan assumption fees.d.

Of course, HOAs are not inherently bad things, they are there to make sure the community is kept clean and well-maintained, but it's definitely worth checking with them first to verify any assumptions.

I’m not over reaching on cap rates or rent increase assumptions.  

Did best assumptions on some, off personal experiences in others, still didn't look good.

That's an assumption.