Make sure that, if it's your intention to "cherry-pick" or be able to still purchase one if the other isn't satisfactory, that the contract is really clear, so there's no issue later.

A CPA should be able to split this out for you and then, or you may want to consider putting the property into an LLC which would issue K-1's that could split out the tax benefits.

I have no interest in debating the pros and cons of getting a license, I am simply looking for suggestions on a brokerage who would meet my needs at a low costs (i.e. no monthly fees, but no issue with % of commission or flat fee on any acquisitions).Thanks - Mike

Housing and Urban Development today announced HUD will speed federal disaster assistance to the Commonwealth of Puerto Rico and provide support to homeowners and low-income renters forced from their homes due to Hurricane Irma.Yesterday, President Trump issued a major disaster declaration for Culebra and Vieques municipalities.

The great aspect for me is that there would be no land cost basis and I would get the experience managing the flip (I have never done a flip yet).I believe there is definitely potential in this deal but the issue is that I do not own the lot. 1) Is there a way for me to get financing on such a deal (hard cost around 500 k) say if I had a JV agreement with him but did not own the lot? 

He's the kind of guy to go fix an issue himself and not charge anything.

Tenants are happy when you address their issues and have a good maintained property - which i do.

Have not heard any issues.

Most times, these parks try to keep their tenants and may have issues refilling the lots due to market demand and/or condition of the park.

The potential issue is location.