Control those assets or someone else will. 

I just want to be free from this high mortgage payment of $2300 + maintenance & repairs and debt that has controlled us.

And, intent matters, but, by itself, is not controlling. 

My state has no rent control law. 

Zoning approval, neighborhood pushback, utility approvals, flood control, offsite street improvements may be required, engineering, etc. 

There is always the chance that they start to gain more control over your property than you have, but that's besides the point.We are still in a very strong seller's market right now, or demand is far exceeding supply.

Maybe it will, but I don't have direct control because it is being put on the seller. 

Ok Ryan, I'm going to be blunt here, but you need to step away from wholesaling as quickly as possible until you learn the basics of real estate, financing, and business in general.Let me ask you, do you think the seller is in possession of the title, or the lender that is in control of his VA loan?

There is probably no way to get around the Subpart F rules if you want to control and own most of the controlled foreign corporation.

You may want to start an LLC with the partner so they are officially and legally keeping control of their money and investment.