https://archpaper.com/2016/04/las-vegas-is-proposing-a-new-downtown-master-plan/Above is an article about the Vegas re-development project.

Just out of curiosity, what were the terms he proposed?

There was a bill introduced in the previous legislative session that transferred the power to regulate this to the state level, but it was not passed before the session ended.

Why don't you propose doing a 60/40 (60% to him) for the first 5 JV deals, if he/she will void the $3000 down payment? 

While each state has its own legislation and case law, it is important that we all, in our continued efforts to source great "deals", maintain an ethical and moral stance.  

Airbnb will be in Atlanta next week sharing legislation they're proposing to City govt. 

It all goes back to state legislation and how the cities can regulate there own affairs.I interpret many zoning codes and in general there is an underlying concept with them.  

I think you might have a deal here but do the smart thing and pay for an hour's time with either a divorce attorney or a real estate attorney and get their "sign off" on the way you propose to proceed.

Any legislation or tax benefits that only benefit plutocrats(sorry, dear reader, that isn't you, or me,) will remain or possibly be expanded. 

@Jay Hinrichs  The conversion rate to home ownership is so low, it would not surprise if there is further restrictions legislated.