See if you can source any info about their housing stipend so you don't overprice, but aren't leaving money on the table either. 

First find a loan officer that will allow you to use one in your current financial position and ask them what your co-borrower needs to bring to the table so you can qualify, then you’ll need to find someone who trusts you and that you trust to co-borrow on the loan with you.

But I think he’s probably been hearing about how hot RE is now, and knows he’s leaving money on the table.

Basically I have a builder who is looking at land to build on and is giving us the opportunity to bring an investor to the table.

A coffee/tea tray in the kitchen nook with cups and pretty napkins will warm the space, as well as setting a dining table.

If the Real estate agent brought the deal to the table.Then they are a greater partner.Who ever brought the deal to the table should be in control.A lot of a partnership arrangement is who is funding the deal is the most valuable unless the work is funding by another partner and/or that partner puts in more than the funding.From your post, if they don't agree to pay your worth, get different partnersand put in writing everyone's split to the dollar!

Have a letter from your Financial entity saying your good for $xxx,xxx.You want to catch the deal as it comes to their table, and before they list it. 

I agree with the supposition that 100% occupancy reflects leaving some money on the table.

The last thing you want is for this thing to land on a lawyer's table.

We started out too low and were leaving thousands of dollars on the table.