Sounds like we are down to the last few items before wire transferring funds to me.

STR inventory in Pensacola exploded between 2020- and now which has driven down occupancy per unit and in some cases rates. 

(Floating rate loans, with no rate cap) 

If for some reason you are unhappy with eviction/RE attorney, let me know I have someone that i great (and I thought her rates were fairly reasonable for the nightmare eviction I had to use her on).

I have a million classified posts showing the style we build. you'll never get the numbers at that rate. your numbers are way off and way too low. work with an experienced general contractor who knows this stuff. 

In many cases the wire coming into the house is not rated for 200A.  

BTW this will also help you understand local rent rates.

Heloc I think we could get $175k, maybe DSCR, I am a veteran with service connection disability rating 40% but with my mortgage and car loan not sure I could make debt to income work.  

Those two together create equity.Here's what I want you to understand about “buy and hold” residential real estate:Let’s use a single family home with a property value of $300,000Let’s use an initial loan amount of $240,000Let’s use an interest rate of 7.25%And I’m going to give you $150 of cash flow per monthUse a 5% appreciation amount for your property per yearLet’s see what happens after 5 years:After 5 years…$150 of cash flow per month = $9,000Your mortgage has been paid down to $227,000 = $13,000Your property is now worth $382,000 = $82,000So that’s $9,000 of cash flow, $13,000 of principle buy down, and $82,000 of appreciation.

Even under this scenario, with a 50/50 split, you will not be getting paid for doing all the work.Another option would be for you to put in 50% of the purchase price using an LLC that you own 100%, borrow the remaining 50% from your investor as a 2nd position loan at a fair interest rate with points, and borrow the rehab under your personal guarantee.Better, if you can find a lender who will lend to a newbie, and they are out there, you could borrow the purchase money using some of your cash as a down payment, as well as all the rehab funds using a construction loan.