@Denise Evans Do you suggest a better real estate strategy(structure)?

You can start real estate investing, reading resources, familiarizing yourself with the Albany, GA market, setting short-term and long-term goals, preparing financially, building a team, conducting property searches, conducting due diligence, making an offer, managing property, and joining local groups.

You can also possibly rent it as is separately for another $150-$200/month especially if your comps do not offer garages.

I'm open to any advice that anyone here has to offer. have a great weekend everyone

Any advice on this or any other suggestions are much appreciated! 

Investing with foreknowledge that property values are falling seems like a timing problem or at least a situation where my offer would be reduced to reflect this coming change.As to how much to put in as a down payment that depends more on your numbers, your risk tolerance, ability to get financing, cost of financing, etc. 

I've been interested in REI for a year or so, and am only just now finding out about the BP community and all of the resources it has to offer new investors.

However, he offered no assistance on the re-platting process. 

You said they have half the funds though so you are offering 50% leverage or are you offering 50% of the total project cost?

You lost me completely by your failure to understand that if a buyer approaches a seller and offers to take over their property subject to the lender's lien, and stops paying and puts that borrower into default or, if the borrower was in default already, that "buyer" may run afoul of local/state laws and may be accused of equity skimming.