If you are skilled in each of the areas above, and you have enough in reserves to cover the costs of when things do not go as planned, then you can likely attract money from private money lenders who want to get a return on their money and they see lending to you as a low risk way of earning a better return than in the other passive investing options they have. 

My two partners are willing to pay their share, but they’ve also offered me the option to take over the property completely since the loan is in my name.Here’s my dilemma: If I keep the property and rent it out, I could get around $2,300 in rent, but my mortgage is $3,300 at a 7% interest rate.

There's zero reason to do this when there are plenty of options to avoid it. 

Sit back , let him build the house , and when its done , say " Thanks " You should check with a local land attorney and see what your options are 

Consider house hacking by purchasing a multi-family property with an FHA loan, or explore creative financing options like seller financing or partnering with private lenders.

Happy to chat through some options.

Another great option is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat), where you buy a fixer-upper, renovate it, rent it out, and refinance to pull your cash back for the next deal, and this is a good route because most private lenders can go higher LTV than on a rental loan! 

They likely will be a bid on the 2 year balloon options, too, in 2025. 

It's possible to buy property in Germany with as little as 5-10% down, making it an attractive option for service members and civilian government employees stationed there or planning to settle.

I’m not sure what is the best option here, if anyone could shed some wisdom that would be immensely appreciated.