For example, you could create a weighted structure where a percentage of profits is based on cash contributions, and another portion compensates for rehab or management efforts.Rent Payments and Tax-Free Profits:If you structure it as an owner-occupied property, the rent you pay could be shared proportionally, but tax-free gains on resale may only apply to your share, as you’d be the owner-occupant.

The loan is with you, not with your tenant, so none of that means anything to them - in fact because you live in one unit and it's under 4, if you were self-managing you don't even have to abide by fair housing laws (at least on the federal level). 

CRM: What’s the best CRM for managing leads and clients?

Best thing is to call the housing authority that manages the voucher program in your city/county.

I have grown insanely skeptical of BP over the last 5 years, yet somehow I am trying the lead generation for both property management and now as a featured agent.

I think it's more about the people honestly - if I decide that I'm going that route than I'd narrow it down to 4 or 5 cities and I'd try to meet some agents and property management companies from there. 

Not only do we find the housing market to be a little more manageable, but a lot of people travel there year round. 

I have a team and large network of wholesalers, contractors, property managers etc.

So any unsolicited calls could be subject to fines if they decide to pursue?

As others have said, the best thing your son can do is run far from this deal, buckle down, save his pennies (he probably already is doing this), house-hack, and improve a property with sweat, hard work, developing a DIY skillset, and self-managing tenants.