Purchased a test pilot home for shared housing. 

Some states like california you can do trust deeds where you break off the loan into multiple pieces.All of these will require significant capital to scale with your own funds. 

And even though virtually every sponsor agreement allows me to share investment information with others who might be advising me on it (especially when club members are bound by an NDA), I still ask the sponsor if I can share it, because it's a test.

Simultaneously, develop a detailed scope of work and collect bids from multiple contractors to compare costs and timelines.

Do you want to get into what can be a years long battle with multiple parties, including our darling city council, until you get to move into your home the way you want it?

You won't have multiple systems--one for CRM, one for PM, another for collaboration.  

Of course, nobody wants to be the test case, but I've never heard of IRS treating money from a loan as income, ever.I think you would be better off with a long closing date on the purchase and sell your exchange property fast so you can do a conventional 1031, receive conventional financing with one set of start up fees/costs, etc.

I have seen it multiple times. 

Investing in real estate, particularly through avenues like foreclosures and tax sales, indeed requires a solid understanding of multiple aspects, including legal considerations.

I have tested it in the past and find that it is way off (usually on the low side) for me.