There is also a basement - recommended use is storage.

If you're building a basic 3 or 4/2 for LTR purposes, with nothing but builder grade finishes, no pool, no dock, etc, the waterfront feature isn't going to increase your rent significantly, if at all.

A basic definition for readers: Co-Investing is basically a way for an investor to give you cash for a share of your projected future appreciation.  

Normally we will establish a "base" amount of kilowatt hours or gallons, and specify a percentage split between the units, weighted based on these factors.

Does anyone have a basic template/presentation I could use to show him how I will utilize his money and his expected return?

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

. - Projection model has reasonable conservative assumptions: 1) I don't want to hear about a base case where the sponsor thinks they are going to buy the asset at a 6/5 cap and then sell it in 3-5 years at a 5/4 cap.

I have a basic understanding of the loan product (income, credit score, loan limits, etc.) but wanted to ask more in-depth questions that I may not have considered. 

If they are galvanized pipes, I've had them split in DOZENS and DOZENS of places along the entire length, and had to open the walls up three floors high to replace the lines because some moron left a basement laundry room door open in that kind of weather!

You can probably find a basic rental agreement online, but you'll want to make sure you have everything you can think of covered - who pays the utilities, who is responsible for lawncare and snow removal, what the expectation is on when the rent is due and the penalties for late payments, and so on.