I have been trying to put together a 5 year general 5 year plan (That is the idea, experience being a landlord might mean I hire a PM and time to scale will likely be longer.).

He came to me to see if   I would be open to co-owning the property.

I have called a couple of local banks, including the one that my mortgage is through, as well as larger banks like Bank of America and Rocket Mortgage. 

I immediately listed it as-is, ready to be built on.

this property is relatively newer (2003) and I wonder what can be known about the two items you mention?

@Alexander F PollockYou may lose a tax benefit of a stepped up basis for capital gains purposes transerring interest away from her parents.Also consider conducting a judgment searches on all parties to the transaction to confirm there will be no title problems for would come up when the LLC sells in the future because you will not have title insurance to cover prior owner issues.

They seem to be listed too high and there is no room for the 70% ARV rule.

So we have 3 buckets in my mind - SFH sale (basic), developer sale for the size of land (new to me), business sale (home + business).The most value would be in selling home + business I believe but I have no idea how to market/find potential buyers for such a thing.

My business partner tried to extort me.Just be careful and don't give too much access to anyone.

Let me know if this is something you'd be interested in doing.