Most importantly you can refine your phone technique at a low cost.

The answer is usually obvious if you can take the tax hit, but in your case assuming 5-7 years away from needing/wanting to distribute money to yourself, this is a decision you need to make with your tax advisor.

@Kim A. would say that a great thing any flipper can do is develop their own off-market seller marketing techniques.

It's important to understand the difference, and I'd recommend sticking with the REIT with depreciation advantages.The Tax Cut and Jobs Act (TCJA) includes a 199A deduction and applies to certain income from pass-through entities (including REIT dividends) and allows individuals to take the 20% deduction against REIT dividend distributions that yields an effective tax rate of 29.6% or 37% (80% for upper bracket filers).

Have you noticed on BP thread after thread about assorted syndications suspending distributions, going belly up, taking measures to prevent going belly up? 

And a good # of the "fluff" multi family deals of recent years that were underwritten very aggressively (floating rates, high leverage) are having to stop distributions, raise more capital or in trouble.

This is even true for student debt.I recommend the old-school, proven technique of paying off all debt.

SpaceX now has a rocket testing center right outside of Waco, Amazon is currently building a huge distribution center in Waco, and BSR Surf Resort & Cable Park built the #1 wave pool and cable park in the world, making Waco an international surf and wakeboard destination.  

Could also rent it out, controlled by an agreed upon third party that distributes equal pay to each party, and hopefully could also pay the mortgage out of rental proceeds so neither of you are on the hook.

I think the technical term is distribution.