I also want to put his $ to work, get a good return so its beneficial to him to do multiple deals in the future.

Although, it probably wouldn’t be beneficial to pay daily Air B&B rates for an extended period of time.Depending on where you are, what kind of mission the base supports, and the type of orders military’s members are typically on you could prob do short term leases and Air B&B in between vacancies. 

Already the seller is willing to drop the price by 20k for plumbing and electrical repairs.My question is how should I structure the deal so as both parties are mutually happy and mutually protected from variables etc.

I think attending someone else's meetup would be very beneficial to see the structure and see how you can incorporate it into your own meet ups for investor agents

It is likely more beneficial to do a 121 exclusion in this case as the gain will be excluded instead of deferred.

I currently live in Austin, TX but am open to REI groups out of state as well, it's always beneficial to learn about strategies in other markets. 

@Matt Pine I would think some of the following would be beneficial to your purchase:1.

This was an off market deal we acquired by a referral of word of mouth from mutual friends.

Hi BP Community, A family member and I have recently mentioned a mutual desire to get into real estate.

My realtor and I have a mutual friend who needs to sell her house and also the lot next to it.