The fan moves 239 cfm of air while drawing 0.23 amps.

Perhaps to draw more people into his scam as he knows investors are usually seeking money for thier projects.

Should I speak with an attorney before we draw them up. 

More likely to happen is the bank says you payoff family 200k and we give you a straight first position up to 75% ltv.The 525k property you are pretty much at 75% ltv so nothing much to do there.Your personal residence about 710k pulled out with 75% ltv.You have about 1,800,000 equity combined to draw from.

The benefits of using a HELOC over a conventional loan:- No or VERY low closing fees- Fast time to funding (I closed a HELOC with a community bank in two weeks), - It's re-usable without applying for a new loan (think of it like a giant credit card)- Interest only payments are available during the draw period- Low interest rates (although they are variable and can change)Having an 80K HELOC is exactly what you want to do your one deal per month, and every deal will be 100% financed by someone else (the bank) at super low rates.If you go this route, you will not only have access to that line of credit, but you also have the income from the rental to cover the monthly cost of the line of credit.  

When you're faced with what to share, just ask yourself what would provide peace of mind to the seller signaling you're a legitimate person that will take care of the property with a plan in place to obtain your own mortgage in the future.As far as the realtor goes, I would find a different agent that has experience in drawing up owner financing deals.  

I will definitely lock down some extra money with the ability to draw more if needed.

Stocks you might make some divident income and appreciation.

You should get a real estate attorney to draw up papers that detail all aspects of this arrangement so you are both protected. 

Your operating agreement will dictate how profits and losse are divided, and who contributes what.