For the rentals, are you open to buying "fixer uppers"?

In the webinar, he stated he's been buying/selling MHP for over 5yrs and just recently he and his partners started the investment group. 

Hey @Sidney Duquette so I am not a fan of buying properties that can't perform with the hopes that it will build equity to offset the losses.

Secondly, I'd chat with a realtor and get some recs on lenders to truly see what you're working with in terms of buying power.

Buy - Rehab - Rent - that has been the bulk of the work.

Simply gifting him half the property now wouldn’t immediately allow him to claim the exclusion without fulfilling this residency requirement, I don't believe.One thought would be to use a HELOC to pull just enough equity out of the current home and use it to buy a smaller home, or at least the down payment.

Who's gonna buy them?

@Amir PortalRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The VA and Fha loans have been able to do it but their strict appraisal guidelines make it tough to buy the often older homes in my market in Virginia Beach / Norfolk Area. 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.