As I see it currently, based upon your summary, I think the expectation of the other parties will be, if they are contributing 25% of the equity, then they are entitled to 25% of the Net from the sale, unless otherwise discussed and agreed upon amongst the partners. 

Clear and full disclosure to all parties is a necessity.

@Jonathan DragoAbsolutely not.You and any business you control are viewed as a disqualified party to your father's IRA.  

There is a party line here on BP for investors to get licensed.  

Offer Price: $200KFinancing: FHA loan, 3.5% down payment (already pre approved for this home); 3.875% rate, 30 year fixedRents according to MLS posting: Unit 1 - $1310, Unit 2 - $1100, Unit 3 - $720; Total = $3,130Expenses: I'm forecasting 57% in expenses (more conservative than 50% rule) --> Property taxes - 4.6%Insurance - $1000 policyRepairs/maintenance - 5% of gross monthly rentUtilities - 1% of gross monthly rentCap Ex - 2% of gross monthly rentVacancy - 10% of gross monthly rentProperty management - 12% of gross monthly rentMortgage + PMI = approx $1,043 monthlyCash Flow (monthly): $163Cap Rate: 18.8% (gross annual rents divided by purchase price, correct?)

I've read the books, I've listened to the podcasts, I've ran conservative numbers, but I believe there is nothing as valuable as actual experience.

One of the keys to understanding true “win-win” situations that makes the most sense to me is understanding how all parties get paid.

Enter repair in PM app (or tenant has already entered it)Assign to tech/handyman/etcUnit either has electronic lock on it or is has master-key accessIf handyman, he has door code or master keyIf 3rd party, they will be instructed to coordinate with tenantRepair is completed and marked as complete; tenant is automatically notified

I understand that the seller will have to pay the lender out of the proceeds, but I'm wondering if there are any ways that a better deal for both parties can be arranged.Any suggestions ?? 

Just have to pose as a good business decision for both parties.