That is what the attorney is for.Because you made the MISTAKE of letting this tenant know you are the owner (nothing good ever comes of this, despite what many posters state), you may need to tell a white lie to extricate you & your wife as the "bad guys" he'll hold responsible.Maybe tell him your "partner" is taking over because they don't like how you're managing the property. 

Value add is going to be a strong play in the REI world.

Find a local lender to partner with.

We want the to be able to have more buying power later this year as well so we don’t want to jeopardize the debt to income ratio of both of the  partner?

It'd be great to not only share knowledge and experience with others here, but potentially find a business partner and pool resources.

Zach, This is a very tough climate for being a limited partner in a multifamily syndication.

You could certainly "be in the right" regarding getting screwed over by the builder but this is a situation that is going to be very very risk for a hard money lender - typically stay away from unfinished rehabs/builds due to running out of money.Your best bet I would say is to find a local private money partner (maybe as more of an equity investor) or to try to finish one first and then re-evaluate, instead of trying to borrow for rehab on both

@Joseff Stevensonjust a few reactions1. definitely house hack once you're in a strong enough position to do so. 

I also feel strong pressure to get this right because my Dad and I are co-managing, and he has almost zero risk tolerance to invest.

would love to connect and partner with someone.