When laying new floor we had to use concrete auto-leveler over an expansion join as one joint was slightly higher than the other.

The joints with the $18 cocktails didn’t do as well. 

Your MIL might consider a tightly structured Joint Venture with a local developer as an alternative.

Once I had a joint venture set up with an experienced flipper, I knew I was ready.

@Huso AkaratovicYou may be eligible to exclude up-to $250,000(if not joint - otherwise its $500,000) of the gain if you lived in the house for 2 out of the last 5 years via section 121 exclusion.I wouldn't wait till the very end because you have to factor in the time it takes to find a seller and close on the property.

Essentially, a quick Google search and plugging a property into the BiggerPockets calculators doesn't make for a good partnership or joint venture, and people are going to be reluctant to dump their money into someone they don't know that does not have a resume.

After one-or-two joint-ventures, you should have the experience to get a hard-money loan for follow-on flips.Good luck!

@John West  Yes, any loan you take out is going to report the full amount owed on your credit, even if it's a joint account. 

Yes you’re missing that a LL is not required to joint the S8 program therefore cannot legally take S8 payments without getting the property inspected approved and qualified by a S8 inspection. 

Read this threads on partnering: How to Effectively Conduct Joint Venture Agreements as a Real Estate Investorhow-do-i-properly-construct-a-purchase-with-a-partnershiphttps://www.biggerpockets.com/forums/51/topics/591...Taking-on-partner-s-and-limiting-our-liabilitesQuestions-for-capital-partners/Real-estate-partnership-questions/And here is a diagram to help guide you on this quest - talk with @Scott Smith to get implementation details: