I really appreciate all of your opinions.Wondering if @Chris K. or @Scott Smith have any opinions on legality or asset protection?

I have been looking around but am having trouble finding some info regarding the legal aspects of student rentals.1.

I understand why the seller would want this contingency but is there a way to still make this purchase while still meeting this legal requirement? 

The language in the grandfather clause was vague, which was concerning to those who were against the ordinance and had homes that would be affected.I have no legal background, which is why I have come here (obviously). 

I have a well-established buyers list, have connections, verified that my documents are legal, reached out to realtors, etc.

We agreed to split profits 50-50 with the monthly maintenance allowance available to me as-needed.My issue is that I am having trouble figuring out how to set everything up legally to make it fair for both of us. 

I know it involves significant renovations and legal help but I believe all units will sell for about 12 million and we would only be into in for 4 million or less compared to selling or doing buyouts based on the appraised value of 2.5million.

I have been managing rentals in Newark for 5+ years. Recently, when I have a tenant that is falling behind and wants to catch up after I take them to court, I have been writing what my lawyer calls a Stipulation Agree...

The upside from a legal perspective (though downside in an attorney fee perspective) is you can file a new eviction complaint, set up a new stipulation agreement, and if they then fail to make a payment enforce that second agreement with a lockout (once the eviction moratorium ends).

My name is not on the legal contract with the property.