However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.

So, if you don't have time to do that, you can hire a PMC to do placement only, even an agent, but recommend YOU have final say on approving them.

At the refinance, I am able to get a loan for $180,000 and $20,000 of the money partner's money stays in the deal.

FHA and Conventional loans will allow schooling to count as work history.

If so what are his loan requirements?

I doubt he'll be able to quality for a loan (VA) with just his income. 

If I got a home equity loan for Property 1 and used the proceeds as downpayment for Property 2 and then got a 2nd loan for the remaining 75% purchase price for Property 2, when I sell Property 2, can I use the Property 1 loan as part of the cost basis for computing Property 2 capital gains?

Quote from @Jay Hinrichs: Oregon finally passed legislation to reel in unlicensed wholesaling its in this months publication from the state RE agency.Highlights:Goes into effect  July 1 2025Requires:On line application to become a licensed wholesaler  ( RE agents exempt from this of course they already have licenses)Name of company and individuals who will be performing these services.Each one needs a full criminal background check and approval prior to receiving the license.300.00 annual fee for the license.Written Disclosures in Bold 10 point.These must be given to Buyer and Sellers prior to entering into a wholesale contract and signed for.Also RE brokers assisting wholesalers need to give these to potential buyers and sellers.

These names frequently come up in investor circles because of their reliability.Speak Directly to Their Team: Legitimate lenders will have knowledgeable representatives willing to explain their loan products and processes in detail.

I'm interested in how others structure their ALFs.2) I'm thinking of going with an SBA 504 loan to acquire the property and do the remodeling.