I'd really vet the developer, their past projects, talk to prior partners (GP & LP) to see how prior development deals worked out and how the communication was, etc.

•This balloon payment will be paid through a cash-out refinance of an investment property valued at $198,000.7.Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:•Purchase Price: $215,000•Down Payment: $43,000•Loan Amount: $172,000•Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):•Monthly Payment: $1,573.39•Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):•Remaining Balance: $78,556.96•Monthly Payment: $1,541.18Additional Conditions:1.Prepayment Penalty: None.

They have a NEW TITLE AGET KIT FOR BEGINNERS accredited instruction here: (and association membership for those in the industry) https://www.alta.org/career-and-learning/webinars-and-traini...

I have made an instruction sheet with an example for each taxing authority I remit to.

Was able to gain some leverage prior to negotiating which resulting in a great outcome What was the outcome?

It appraised 242k prior to any renovations.

Or would the son have to own his half of the home for two years prior to selling in order to qualify for the exclusion?

Across the remaining portfolio, I have a really good amount of equity which I can tap into based on opportunities but need to finish cleaning up my personal debt prior to going that route to get best rates etc.

I recommend you speak with a lender about reviewing whether you could qualify for a loan prior to making an offer, as I've seen these kinds of things blow up.

I - nor my clients - will rent to anyone without having of proof of engagement prior to moving in.Hope this helps.