I started reading online about normal wholesaling (not virtual).

If you don't actually replace the damaged property, the insurer will normally only pay you the "actual cash value," i.e., the depreciated value of the property.

An LLC with 2 +members does normally require a 1065 filing. 

What is your soon to be betrothed risk tolerance, lifestyle, time and energy?

Most people who buy in Costa Rica do it for lifestyle and they might rent (or not) to cover the cost and maybe make a little profit.Unless mentioned otherwise, when responding on that topic I know or I have assumed that people are potentially interested in an investment property, not a lifestyle property because this is an "investment" website and people talk about STR.

My question is, do you keep your gains in a normal checking account and do not worry about inflation working against that account or do you store funds in a high interest bank account or a mix.

It sounds like it could be Morris (from the "funding the lifestyle" language) but it might be someone else in Indi.  

A deposit at the start of a build is normal, this usually pays for materials and labor to get started.

Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck 

Work on your living cost versus doing the normal buy a duplex and out $69,000 down.