To me this represents a 69% ROI over an 8 month period which I thought was a great deal even after a 50/50 split.For you guys working with partners: Would you ever consider a 50/50 split where you buy and contribute all the funding but still give away 50% of the deal?

You do have to get the home approved for Section 8 tenants as well which will take some time so you'll need to account for that vacancy period as well. 

When you add big items like remodels or putting up fences etc, you deprecate that stuff over a longer period of time.

12 months is too long, I'd give a 3 month feasibility period with hard money down.

Spend the time on creating a llc operating agreement, setup a llc bank account, and have periodic recorded company meetings (even if it's yourself) to make it harder for a lawsuit to go after your personal assets. 

I take a pic of the foreclosure listings in the local newspaper, then go to the courthouse to monitor the files of interest during the outbid period.  

My lease period is for six months, depending upon the business scope I will be extending the lease duration, this clause is there on the contract!

Period. 

These include the inspection/due diligence period, the inspection objection deadline and negotiating any inspection issues, the financing clause, title work, what comes with the property i.e. fixtures etc.

Almost made to feel this was an odd request and "Ordinarily, in all commercial leases, theres is a provision with respect to a renewal option that the tenant must exercise with in a stipulated period prior to the expiry of the lease.