Simple answer would be once you accounted for all income and expenses and determine the net profit, you can distribute that to each partner and then at the end of the year each partner would report their share of profits on their own individual tax return.

.- The property is located two blocks away from a school (which according to the real estate sites is rated a 4/10).

Great place to learn, network, and just enjoy chatting with like minded individuals.  

Usually isn't good to ask an individual to do something a bank would not do (besides the credit issues which a seller is already accepting) that puts them at even a greater risk!

@Carlos EnriquezNo, I cannot access the tenant's FPL account number.I do have an account for that property, but it is the main house account, not the individual unit account.Just to be sure, I called FPL this morning and inquired about the rebate program and the rationale associated with the rebate program requiring a FPL account number for the AC install location. 

And we keep hitting the same road blocks, the purchase price of the property is to cheap, we don't want enough money.

I would bet your property is zoned RSA-5If you are RSA-5, you have a rear yard set back of the greater of 9' or 10% of the yard, not to mention an overall open space requirement of 20 - 30% depending on the location (corner or mid block). 

Ricky, If you can find individual tradesmen that will work for you at an hourly rate, chances are their work will be far under par.

My lot's 2 blocks west of 3rd.

What class is it for/ what type of individual were you looking to interview (agent, investor, etc.)?