So won't have to pay capital gains. 

The client will be solely responsible for capital gains taxes, including depreciation recapture, regardless of the agreement to share proceeds.

Over time, as you build more properties, the cash flow and equity from each one can be used to fund future investments, creating a cycle of growth.Why BRRRR Works: The BenefitsThe BRRRR strategy offers several benefits that make it appealing to investors:Leverage Your Capital: The ability to pull out equity through refinancing means you don’t have to wait years to accumulate wealth.

For instance if I’m looking at potential capital expenditures over the next 5 years and the range of the cost is between $25k and $75k, I would use $75k in my projections.

Most newer wholesalers I meet are looking to do this just to build their own portfolio, hold on to the properties they want and capitalize on the ones they do not.

Partnering with investors to share profits is another avenue to increase capital.

I am not sure if I can put zero for capital expenditures, since it is new construction. 

Quote from @Tara Montgomery: Do any of you know where an investor can find a capital raiser or any similar title for a development project with a PPM in the beginning stages?

You'll need more capital and most will require a personal guarantee and personal financial backing. 

The gain takes a few years to realize but it is a way to scale when your own capital is low.