I was most afraid of buying a property with major structural or foundational issues that would sink me financially.This property was actually an off market property to begin with that would not pass city inspection when we first saw it (at least on the side I am living in).

Profit split returns are where the investors literally split the profit from the sale of the asset according to the structure outlined in the contract.Here’s a great example, using round numbers for ease.

And if so, then does it make sense to structure a deal such that you’re less cash flow positive in higher tax states? 

I now really want to BRRR the property...Is there a way to structure this partnership so the other investor would still want in? 

Most billboards either have lease with definitions about the structure itself and what happens, or a permanent easement. 

You start getting into roof, structure, parking lot, utility lines, etc. it acts almost like a gross lease even though called a NN.

Does anyone have any suggestions for doing this without the it being structured and feeling forced or like a speed dating event?

The entity structure we used was a limited partnership where I acted as GP via an LLC and then had investors who were LPs.

I cannot tell from your response if you recognize that the JADU must come primarily from existing structure space (small exemption for new construction for access). 

Would love to hear how you managed to accomplish this and how things are structured out.