If yes to the first and no to the second, I would hold off on such a large deal and start smaller. you are essentially asking people to blindly put faith in you with their hard earned dollars based on numbers only and no history or resume

The difference here is that my son is employed and earning some money already.

If there is no stable income in one or either earner / no kids / or rapid-rising job-level expectations, they move to the middle options.If there is no job / no stable earning possibilities / no kids - its 'What's for dinner, Mom?'

This will help you,  to date or afterwards , personally depending over any wealth that you may have earned, to help you prevent any personal wealth that is apart from any possible legal action taken against your business towards your personal things.  

That is a good combination to earn short and long term investing.

A good accountant and financial advisor could probably give you all the knowledge you need for a fraction of the cost.I don't begrudge anyone trying to earn a dollar, in fact, I encourage it, but you might be wise to direct your resources in another direction. 

Does the property earn higher than average rents?  

People are glad to work to earn money.It actually can have more impact than is obvious.

What I am thinking is with my General Contractors License I will be able to help Buyers, Sellers and people interested in flips by hiring the subs to do the work while I qualify the numbers and supervise the remodels or rehabs for my clients so as to earn the sales or listing commissions.

I was taught that whatever you want, you need to earn it.