When we did it, we did score some great deals, but what we found was that we were visiting so many properties to understand our "strike price" (the maximimum we would pay for the property when taking into account rehab costs, hold times, interest on any debt, closing costs, real estate commissions, a contingency reserve for "unexpecteds", etc) that the math started to not make as much sense.

I don't recommend it unless you can find a CPA who really understands the syndication space. 

If you are single or married without kids and an understanding spouse.

Understand your niche!

I understand the 25k guy .. and the seller carry back folks normally those I see that do that will get the amount they paid for the dirt back in the down payment and the note is pure profit.

I was told I need to get a good understanding of these subjects:  1) Taxes, 2) Legal issues in ABNB, 3) Negotiations, 4) Short Term Rentals & 5) Tenant/Rental Agreements.

However, it’s important to understand the loan’s key requirements:Owner-Occupancy: The borrower must live in one of the units as their primary residence for at least 12 months.Single Borrower: FHA loans are issued to individuals, not partnerships or entities, which means the loan would need to be in your name alone.Given your scenario, only you can qualify for the 203(k) loan since your partner does not intend to occupy the property.2.

Based on the above is my understanding correct and the 45 day identification period and 180 replacement property purchase period (which includes the 45 days) both extended?

Before you go any further, I think you should understand they are 2 entirely different things.

I’d recommend consulting with a lawyer who specializes in contract law to understand your options and how to protect yourself moving forward.