I have a strong work ethic and don't shy away from hard physical labor thanks to my granddad making me carry pack of shingles up on roofs at 6am during my summer when I was 11 years old, my pay was dinner that night lol. 

Since you were a tradie in your previous life, seems like a great opportunity for an ethical businessman  (like you) to build another company.

He has proven himself to be a hard worker, ethical, and as it happens, he'd really love to expand his knowledge base and grow into bigger responsibilities.

You don’t save taxes by using the money to buy another principle property. 

When I exercised my rights under the JV agreement to cancel, have my principle returned, along with interest owed me, it started out with radio silence, then turned to downright lies. 

If I jump to the end of this story first, I will tell you that at 7% interest and high market values, very little cash flows well when you take into consideration principle, interest taxes, insurance, and a $100 maintenance reserve… at least where I live in Florida - but we have really high insurance rates.  

My underwriting had me around break-even... not a killer deal by any means but between the low money down, rent savings,  principle paydown, and most importantly the experience...

I read a book by Ray Dalio called "Principles," where he discusses embracing and learning from failures as much as, if not more than, successes.

But the factor helping you is the amortization of the loan (principle paid down on the loan  by the tenant).  

For a hands on manager skilled in management principles and knowledgeable about the particular business sector.