I am planning to offer an equity position to a friend in a property I am currently in the process of refinancing.

Since you have more time than capital right now, consider side hustles like Airbnb co-hosting, property management for other investors, or even leveraging your nursing background to consult for mid-term rental owners.

And the hardest part of all this is finding sufficient labor to rehab/manage the property. 

Quote from @Krista Lance: @Kevin Sobilo @Thomas Talbert Sorry - I should have specified more, I have a property manager for these properties, and they track all of the accounting, etc.

Can your property actually afford a 90% LTV loan at 8+%? 

Raise the $600K, do the pre-development work, then “sell” the property to NewCo.  

I could see this fit into several categories of 'real property trades or businesses.'

You could do things like outdoor speakers, waterfalls, etc.Visually, unless you are in an HOA or other restrictions, maybe you can hedge the backyard for added privacy.The goal for most people is to keep the property, not sell.

I just checked all my properties and they are still showing up in chronological order.

Contact my friends at HomeHop Property Management. www.homehoppm.comTalk to Dan, they have a in house designer, who you can hire.