It's great to hear about your interest in the BRRRR method.

My understanding is that in this method, the seller has to be an owner.

Along the way, i was introduced to the BRRRR method and have now adopted that strategy for my property. 

I have been in talks with a GC in Georgia and his method of building is: He builds everything at costs and doesn't include any markup or fees, he oversees everything, I only supply funding, and we split 50/50 the profits after paying back the bank and all other associated fees.Since I am only supplying the funding for the deal, is there a way I can structure doing this so that this is considered passive income for myself since I won't be involved with the construction or overseeing the project?

Quote from @David Tiefenthaler: Brandon is a great teacher and a good person, but that book teaches methods that are not good for investors and are more likely to get you in trouble.

I would also suggest you reach out to someone who has experience in the BRRR method of investing.

It sounds like you have already defined your investment strategy using the BRRRR method.

Using the BRRRR method, you can actively increase the property's value, which is then reflected in a new appraisal when you refinance.

This property's journey from a former church to a modern showroom is a testament to its potential and adaptability.

Changing Your Accounting MethodGenerally, you must get IRS approval to change your method of accounting.