You don't have to worry about damage to the equipment or it being stolen.But if you do decide to buy the equipment, there is a good chance that it will be eligible for bonus depreciation and potentially 179 expense depending on your net income.

https://www.naca.com/faq/general-and-eligibility/ You can buy a  house or a multi family and house hack!

I’m specifically looking for properties with potential that are priced under $200k.I had a Chapter 7 bankruptcy discharged approximately 2.6 years ago, so I’m currently eligible for FHA loans.

I assume you are eligible for it and I would go with the solo 401k as @Dmitriy Fomichenko stated.  

I actually have individuals buy a property “off market”, under ARV, under my guidance, so that I know they are learning the fundamentals.

This can often lead to bad purchased since neither focus on the fundamentals of the underlying real estate which is what ultimately drives value, appreciation and net profit.

I really like these fundamental pieces of advice! 

Your brother-in-law’s 10% ownership won’t affect your ability to claim this exclusion on your portion.Unfortunately, the option to roll proceeds into another property (like a 1031 exchange) only applies to investment properties, not personal residences.You’re likely eligible for the exclusion, but I recommend confirming with a Tennessee tax professional for any specific state tax issues and to verify your status with overseas residency.Let me know if you need more guidance on this or related financing!

from your comments above I also think there's a basic misconception/misunderstanding of fundamentally how negotiation works in the open market, and that again is likely an area an agent can help you.

The amount you will be eligible to get tax free is prorated on the number of years you've lived in the property as your primary residence.