I'm a mortgage broker, so need a wholesale lender. 

In real estate, I don't change locks, screen tenants, evict tenants, inspect properties, or finance my deals - I have property management, property inspectors, and mortgage lenders that do this for me (outsourcing).

@Samuel Kim - please contact @Chris K. privately and allow him to show you how you can benefit from this wonderful strategy that he implemented for his many health professional clients.

That will determine if you could sell it and use the money to buy a single family home or would need to take out a mortgage. 

I am bullish on the FHA 203k and home-style renovation loans that allow you to leverage the cost of your renovation as part of your mortgage, which is just an insane deal, in my opinion.Do you have a specific area where you want to purchase?

I put 20% down using personal and private lending.How did you add value to the deal?

I started my career as a commercial banker a long time ago, but have been an independent mortgage broker for nearly a decade.

We're exploring creative ways to provide him with the cash needed for the down payment while avoiding triggering a taxable event.One strategy we're considering is purchasing his future primary residence ourselves, making the mortgage payments, and then, once we've built enough equity—comparable to the appraised value of his rental properties—transferring the title to him as a form of exchange.What are your thoughts on this approach?

Typically, the initial upfront for the rehab is either cash or a high interest loan (hard money or private). 

Also, if this is something that you are looking for in a hard money lender, you might want to look into more of a private money lending model verse anything else.