As a side thing I am trying to create a spreadsheet to look into properties that could work for the communal or buying abroad together option. so I was looking for a list of things I would need to consider when buying a property/land in this manner.

I'm loving this thread - so great to hear compelling arguments from both sides  - thanks for the great info - not sure if OP is any closer to an answer  - but wow - a lot to take into consideration on the subject.

Any creative ways of financing or were you just in the position to purchase in a traditional manner@Maura Paler Thank you for the wealth of information and resources.

@Joe Splitrock the owner probably got burned by a previous guest and felt compelled to try and protect themselves with a lengthy agreement. 

I would then school them on this little fact... and by the time you have default interest and all other manner of charges they could be getting phantom income that about equals their annual salary and then have another host of issues..

If we were to go into a big recession and you have tenants that are not paying and you can't get them out in a timely manner (think California), or if you all of a sudden have multiple houses that need new roofs or new ac units that can be a huge hit and if you can't pay for them you can be in a big problem.

Any advice on being able to write and offer and close this deal in a timely manner?

Nice cloths, nice (and clean) car, well mannered.. 

They have "tiers", but are not willing to explain in a straightforward manner what those even are and what the difference is.

I'm open to any insights or suggestions on how to structure this project in a manner that benefits both parties.