Sounds like 1031 to a different property and house hack from there is the way to go.

It sounds like a few people on this thread don't really understand how PMC's operate or why they may charge extra fees.

Hi Anthony, it sounds like you’re in a good position to start building your STR portfolio, especially with no debt, great credit, and rent-free living!

. ;-) The following is just general informationIt sounds as though the seller has an investment to sell, not his private home.

At the risk of sounding too dramatic (but I know us on BP can get extreme to reach our goals), I am going to NOT get another residence.

Sounds like you're making the jump at the perfect time!

First it sounds like this may be a "heavy rehab". 

@Brittney Yang first red flag is it doesn’t sound like he’s that interested in long term holds but the primary reason for partnership is expertise in renovation and secondary reason is balance sheet and income to help get financing.Regarding reason one, I would offer to compensate him for his time in assisting you and have a very clear scope of what that responsibility is.  

Does this sound like a deal worth pursuing for cash flow?

Matt that is the NMLS number for the company not for you personally  sounds like your a VA or something not a licensed lender..