If changing the deed to an LLC is possible during this process, it would be a bonus.

Any market growth on top of that is a bonus. 

You might also put some sort of tiered bonus structure based on profitability to incent your partner to keep costs down and profit up. 

Someone who is also an investor would be a bonus!

He has brought his resources (people, materials, and experience etc.) into the mentorship which are all bonuses outside of what I paid for and this alone will save me time and money.

I do a cost segregation study and claim bonus depreciation.

Any cashflow from STR is a bonus on top.Does this plan seem logical?

Bonus points if actually compliant with prevailing local and HOA regs. 

I already had all the team in place from other projects (architecture, civil, structural, soils, geology, survey, historical) ... we've been at it for 9 months and we haven't even submitted final construction docs.That's one anecdotal example, but the pattern is clear - whether it's CEQA or Historical or riparian habitat or community plan or setbacks or parking or mixed use bonus that hits the FAR ceiling or phantom floors or utility undergrounding, there's just a lot to understand if you're trying to build anything more than a duplex on a single property within City limits.I only have development experience in SD City limits ... curious if anyone has experience doing this in surrounding jurisdictions (La Mesa?  

Bonus if it's NOT in a part of the country that gets snow.