Looking for a Cash Joint Venture to purchase property in Texas, USA

I am seeking to acquire a part seller financed Hotel property.

PURCHASE PRICE IS $1,495,000

I AM LOOKING TO GET $800,000 TO CONTROL THE PROPERTY

THE SELLER WILL FINANCE THE BALANCE

The JV partner can exit after 12 to 18 months with either a refinance

or sale of the acquired property.

INCOME IS NOW $40,000 A MONTH & GROWING, BANK STATEMENTS & TAX RETURN AVAILABLE UPON REQUEST. HOTEL IS RUN AS AN EXTENDED STAY AND MOST OF THE TENANTS JUST LIVE THERE

THE HOTEL HAS A LARGE CLOSED RESTAURANT THAT CAN BE LEASED FOR ADDITIONAL INCOME.

MANAGERS LIVE ON SITE

ADDITIONAL INCOME FROM 6 LAUNDRY MACHINES & VENDING.

Existing P/L

TOTAL YRLY INCOME TOTAL YRLY EXPENSES NET

$480,000                                                    $167,436                                          $312,564

MONTHLY AVERAGE

PAYROLL                                                          $5,524

GAS                                                                       $652

CABLE                                                                   $952

TAXES                                                                   $958

INSURANCE                                                       $1,147

POWER                                                              $2,417

PHONE                                                                   $425

WATER/TRASH                                                 $1,518

SUPPLIES                                                              $363
Total Monthly Average                                  $13,953