Alexander is this based purely off your observation from MLS listings?

If he is interested in helping you out maybe he will give you a good deal but from a pure financial side it's tough.  

My advice is to start listening to the BP Podcasts, these are pure gold!  

While it will help the homeowner, I'm interested in it purely for the rent (with a tenant who wants his house back) and potential profit.Would you do it again?

@Rachel M.For purely investing purposes, probably Memphis.

In a pure and traditional sense the turnkey provider is the property manager post sale.

@EVELYN Oye, my guess is that you'd be "investing" in this as an owner-occupier, rather than a pure investor?

Certainly, you know the area better from me, and if you confident you can sell it in the desired time frame without taking the loss, and you can afford the monthly nut, that's the better alternative.Lease option might be feasible, but won't be much different on a monthy basis that a pure rental.

I don't think trying to time the market is wise, unless you are purely a speculator.

For the split, I'd say going pure business mind of it, what does it all cost and return without the partnership, what will it be with the partnership, then what is what each brings to it worth and make some agreement the matches the differential, that would be my max split.