However, I'd like to flex my creative financing muscle and save a good chunk of my own cash if possible.

When you define the expectation to a creative then you are assuming permission to say “this does not work”  when you have a stager that is going to get photos for marketing out of the deal they will stretch their  creative muscle sometimes accidentally not working in the best interest. 

Off the top of my head I am thinking:Me (the brains) : 40%,Contractor (the muscle): 20% (since he will be paid throughout the construction phase, and then 20% of profits after home sold)Rich Friend(The Cash): 40% since he will be providing all the money for the deal)

It's not as cool-looking as its brother the GS850G but still technically qualifies as a muscle bike.

Sounds like a great learning experience, as well as practice exercising that risk muscle. 

Then again prices have reached some astronomical levels over the last couple of years, making that potential correction percentage look like it'll flex some muscles.   

So if and when the time comes to sell that LLC would have to do the 1031 exchange and the members go along with it.I spose you could also simply form a JV where they brought in the land and you brought in the muscle but each retained control of their own assets and crafted a very strong JV agreement. 

:-) 😅😅 He's nearly 12 pounds now and solid muscle.

Don't muscle urself into a bad deal

Also as a side note you should be proud of your bargaining skills, if those were indeed done by you, but reading between the lines it seems like you are instead trying to "flex your muscles" rather than presenting your case.