Very loaded questions.

@Justin MoserBefore you waste money, can you provide us with some more info on what they did?

I'm getting more photos tomorrow so we'll see if there's any more progress.Depending on how much you really want to protect your investment.. simply getting pictures on a drive by is not going to cut it.I would suggest you find a construction inspection company like the HML ers use we use and banks use.. normally about 50 to 100 an inspection.. so what you want is at demo phase they go through and check it out quickly and make sure you did not buy a complete wreck with a lot of structural defects that can easily be hidden.then from there once they do electrical and plumbing before they cover those us get it inspected..then have them come back after sheet rock and kitchen bathrooms etc.then once its done hire a normal home inspector to go through the whole house to make sure its up to code and everything is working.. the first inspectors just say yes there is plumbing and electrical the last inspector make sure its all to code your GFI's are in your hot water works etc etc.the other thing you want to do for SURE is get a sewer scope all those old houses unless its evident there is a new waste line the second someone moves in your probably going to find your sewer wont work right and it will be an emergency replacement and cost you 2X to 3X what it would cost if you fix it now..

Macomb County is loaded with NARPM-affiliated property managers, but St Clair County not so much.

Not sure wasting our time, the IRS, or the time of a skilled lawyer, is worth the effort when the numbers look hard to achieve (and be IRS accepted).

I'd hate to let this opportunity go to waste if it is really as good as I think it is.

How do they know their investment will not be wasted?

I apologized, provided my license, my CCW permit, told him I had two loaded handguns in the truck, and offered him the keys to search the vehicle. 

A lot of investors experts and noobs think that the second someone appreaches them to sell, they get so excited... don't.You need to establish first if it is a waste of your time, or worth persuing.

What I have done in the past is just take the joint title but that caused them to go through the mortgage app. process which was a chore and none of my other investors will waste their time going through that.