These can be great deals because allows the seller to 1031 into 1 bigger property but can also be risky on condition and management turn.

Maybe even the 1031 Exchange forum if you want to try another place. 

I'd be very wary of someone asking to rent it in exchange for doing work on it. 

In exchange I was hoping this could be a learning opportunity to help pave the way and set me on the right track for when the time comes after high school to purchase my first investment property and start the snowball.

All I want is an opportunity to master my craft and continue doing what I love, working on houses, in exchange for exceptionally fair prices.

They need to sign something acknowledging that they are giving up their rights to inhabit the house in exchange for money.

Will it be very complicated to do a 1031 Exchange for my portion (provided that we relinquish the property and the sibling just receives the cash for her portion)?  

Then 1031 exchange.  

But you can talk to an accountant about setting your business up under a corporation, and doing 1031 Exchanges.

Would you recommend bringing in a partner to help with capital and construction costs in exchange for equity in the property?