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.

Hi Gary, the "other structures" portion of your insurance will definitely cover the fence.

He/she will create the legal structure and the documents you need for your syndication. 

There are personal tax considerations, the structure of the investment (sole ownership or ownership with a partner), personal comfortability with risk, the loan products you have access to, personal income, personal debt to income ratios, property income, state of ownership (different states have different rules on transfer tax), and even the future strategy you are planning on taking with your investments etc.

@Chris DonathanHow I understand it is that the cash flow from your rental/s is offset by the depreciation of the bldg/structure.

He does own the property free and clear just FYI, but I wanted to put this out to the group to see if anyone has run into a situation like this before, and if anyone has any suggestions on a way to structure the deal in a way that could reduce the seller's taxable gains so we can put an agreement together.

This seems like a good opportunity for seller financing, because you can structure the deal in a way that works well for you and your mom.