However, after you get some experience, you probably want to get a Private Lender since this will allow you to keep the majority of the profits.

I am currently a junior business marketing major with a concentration in professional sales at Samford University.

EBR housing allows around $1,300/month for 3 bedrooms.

This is quite an easy business to scale.   

Selling gets a tax free gain and allows you to be more liquid; keeping it allows you to have once in a lifetime cheap debt and have that leverage on an appreciating asset. 

You don’t want your lender to go out of business while still holding your construction escrow funds.Can you provide me with the contact info of some recent borrowers?

Use this partnership as I way to learn how to crawl in the house flipping business.

They have to allow them in to inspect to make sure things are copacetic.

I am trying to find a mentor and I feel like working for a corporate wholesaler might give me the experience I need to turn my little $175,000 chunk into a rental property business one day.

Simply gifting him half the property now wouldn’t immediately allow him to claim the exclusion without fulfilling this residency requirement, I don't believe.One thought would be to use a HELOC to pull just enough equity out of the current home and use it to buy a smaller home, or at least the down payment.