Quote from @Chad U.: Awesome! 

Please make sure you vet your partner properly, I wouldn't recommend doing a joint venture or partnership with someone you don't really know. 

I am not a credit expert.. just know how tough construction loans are .. so with zero experience and missed mortgage payments I suspect u will not find a lender that will do a loan for you. 

If you are able to connect with others who are invested (such as through this forum), perhaps a group of you could get together to file jointly, and split the cost. 

Chris just think about the U tube guru's who say they fund like I do but you have to pay them 10 to 15k up front to be in the club..

Potential outcomes include develop and hold/rent, lease to developer, and joint venture.

Section 121 Exclusion: You’re also eligible for the $500K exclusion (if filing jointly) under Section 121 since it was your primary residence for two of the last five years.

Quote from @Chad U.: Quote from @Soumojit Sarkar: I own a condo in BC but live in the US.

We file jointly, but I want the investing to be my business in my name.

Main thing for you is: - Have both you and your buddy talk to the same lender and get pre-approved to understand down payment options and what your combined budget would be- Decide how you want title held (joint tenancy or tenants in common) - do a google search on this to see which option is best for you guys- START SHOPPING!