A small developer I know has proposed a partnership that's pretty intriguing but I'd appreciate some opinions on it. 

Details: North SJ, near the future BART station, town home, 2BD/2.5BA - 2 master bed rooms, low HOA and well maintained, near future developments and another town home complex to be built nearby, ~1100 sq. feet, decent school district (Piedmont High School, 4/5, 10/10 on Redfin), 1 car garage and 1 carport w/a private patio, close to Target and other shopping areas, laundry downstairs and in the building.

If we can't develop a guideline, then I will just be beating around the bush with this one. 

Develop a plan.

My husband actually knew the family when he was a child.  

Don't forget that at least at the local commercial level most of these guys and banks know each other so if you get a good relationship (demonstrated by multiple notes with one guy) they see it and it is a confidence level for the second guy as well.I guess my long winded bottom line is develop a relationship somewhere for the first few then expand out. 

(a) It is unlawful for any person, including any entity, to act or assume to act as a home inspector, to engage in the business of home inspection, to develop a home inspection report, to practice as a home inspector, or to advertise or hold himself, herself, or itself out to be a home inspector without a home inspector license issued under this Act.

Honestly, if you aren't looking to sell real estate, use the materials as a learning resource and work on finding an experienced investor friendly agent that you can develop a long term working relationship with. 

I have a few questions about some family property and how to approach development from a financial side, here is some background info.

Find out what zoning your desired use would be allowed in and then look for those districts and see what's developed there.