So even if you had a buy out agreement negotiated up front and execute that buy out agreement, the bank would still require him to be guarantor unless something drastic changed on your side financially.The best scenario here would be to purchase and rehab the property using a hard money lender or bridge lender.  

I do pretty decent for my age, and I live at home still, so I've been saving up a lot of money.

Seller financing, private money, and subject-to deals can open up opportunities that others might pass on.🔹 Maximizing Value – A distressed property isn’t just about fixing what’s broken; it’s about repositioning it for the best possible return.

.- at year 7 if value appreciated a lot, can i do a HELOC on it and use that HELOC to pay off the balloon - probably not due to lien being secondary etc on helocYes on the HELOC, but it would probably be easier just to refi and pay off the seller, and cash out more money too.Hope that helps and good luck!

If you want higher growth then Cleveland and Dayton type markets with $100-150k prices may be better suited.I would encourage BRRRRs after your 1-2nd so you can recycle your money.

Are you using your own money for your flips or do you have a lender/investor that funds your flips?

Just remember you are spending time and money to improve a space that isn't yours and you're not able to take the improvements when you leave, ownership should have some skin in the game especially in a new build.   

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

The ones I've found have the best value were ultimately side-hustles for the founder, and they were making most of their money from their real estate. 

Reading thru Vail Resorts annual report the other day and looks like they loose money.