Recasting is when you make a payment on an existing loan and update the payments - for example if I owed $100,000 and my payment was $600/mo and I paid it down by $40,000 recasting is they update the payment based on the new $60,000 balance.If I understand this correctly, you are selling a home which you will make $300,000 on and putting $200,000 down and keeping $100,000 to renovate?

How do I know the books are complete and correct though? 

Asking in the correct forum will get a better response.Need a spreadsheet or form?

And if that sounds like a lot while you are in college, you are correct.

You will get overcharged and have no experience knowing if it's being done correctly.

Yes, you can; this strategy is called pooling and it also adds a tremendous tax advantage You'll just need to make sure the entity pulling and disbursing the capital is structured correctly for its maximum benefit  

Hi Alex,You're correct about the 2 out of 5 year rule.

Asking in the correct forum will get a better response.Need a spreadsheet or form?

It provides housing when we have limited supply, it's a good way to find tenants and make friends, and it produces a great ROI (if managed correctly) because the rental income is generally higher.

Flips and BRRRRs can work in the Bay Area if you can find a distressed property and do the renovation correctly and not overpay on rehab costs (that part might be difficult).