You manage the headache of guests and communication, cleaning, etc. and he provides the property, but shares in the expenses and profits.

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?

Sometimes making a smaller profit and providing value is far better than holding out for a bigger payday on a bad deal, I like that.

Travel nurses are making bank and sometimes I think the locums companies provide lodging.

The great thing about living in a high cost of living area is that your salary / wages are hopefully also very high.If you are a new college grad, I would focus the next 1-3 years on increasing your salary as much as possible(gain new skills, new certifications, change employers, etc).Once you make more money, you can easily get in a position to buy a property on a more frequent basis.Best of luck!

Only an investment team can provide the crucial local knowledge you need.Moreover, you'll need various resources to find, validate, inspect, renovate, and manage a property.

Advise him in writing that - email AND via US postal system with proof of delivery required that the lease remains in effect as is and that you, again, recommend that he file a claim with the provider of his renter's insurance for any losses he felt were sustained. 

We currently work with out of state investors and provide a full service approach which can be used by in state investors as well.When it comes to investing I'm currently in the process of closing on a partnered 4 Unit in Milwaukee WI.

We have had brief discussion regarding general Q&A information, and proceeded to provide an ARV price range that would be very attractive to me. 

He has helped a ton of BP members successfully house hack and has done it himself as well and can provide you with invaluable experience.