I've even heard of GCs using auction type settings for returned items at Home Depot and Lowes for steep discounts.I've learned a lot about the GC game as I was up close to over 40 projects last two years and some went well and some did not and when they did not it was all Contractor related.If a GC isn't sourcing cheap materials at the same time milking the hell out of his 150-200 per day workers, then you can find yourself eating into your margins real fast. 

If Kentucky is of interest I am well connected with a local lender that does quite well on Physician loans. 

If you are only doing a 1-2 year lease option, then I'd recommend you just buy down the prepayment penalty to 1-year and just eat it if the borrower executes early. 

I also am a traveler, so I felt like running an Airbnb would be something I would be quite good at.

It's quite easy to setup.

Fellow investors,Recently quit my W2 job(commercial General Contractor) to pursue full time real estate investing.

what about quit claiming the two owners onto title as tenants in common and managing the ownership through a TIC agreement?

The biggest mistake new investors make is to walk a property, maybe explain in general terms what they want and then let the contractor come up with the SoW.For a bedroom this could be:- replace carpet- repair closet dooror- remove carpet- remove curtains, nails and screws- replace closet doors, entry door SKU#- replace window SKU#- refinish hardwood floors 144 sqft, clear/oil-based- prep and paint all woodwork- patch walls, texture, paint walls eggshell white clay, ceiling flat white- replace light fixture SKU#, replace lightswitch w decora/white, replace 3 outlets&covers- install blinds SKU#Obviously, the cost would be quite different.

I'm looking to do my first project and I'm not quite sure how to craft the offer to benefit the investor. 

These posts are quite informative.