Thanks for all the helpful answers on the forum.I got an off market deal, brought it to my RE partner, he wants to househack and my DTI isn't great right now.We are trying to get  a FHA loan under his name.How can we structure this deal without an LLC, to have equal equity and income/expenses?

Also, for precast panels are you referring to the factory-built walls that have all of the electrical, insulation, and structural members inside already?

Frequently people will post on the forums asking opinions about buying old houses/buildings, what to look out for during inspections and what considerations to make when structuring an offer.

How would I structure this?

Every appraiser I've ever talked to says they do not evaluate furniture, or cleanliness, or things not associated with the structure itself.   

We don't want to create an LLC structure that is going to create more compliance fees than needed. 

There are hurdles to be made before they make any significant returns, an waterfall structures, as well. 

My question is, how would you structure terms if you were one of the 2 people that are working hard?

@Cody Gray you don't get a break on your mortgage when it's a shorter month so why would you try to structure that for tenants (assuming a fixed rate amortizing loan)? 

Typically, a developer needs to do the early stage work and run numbers based on preliminary data to figure out two things: The 1st is define what the Planned Project is all about (Highest & Best Use, Density, Finish Levels, Cost, Income, Expenses, Capital Stack (Debt & Equity), Partnership Structure with an Investor, Holding Period and so on.The 2nd is for the Developer to figure out the deal structure with the Landowner; If a purchase, settling on a fair due diligence period that will allow the developer to close at the time the Project is “shovel ready”, the milestones associated with the permitting process and the earnest money released to the Seller as the deal progresses.