More specifically, the owner and I would agree on a sales amount (165k), I would finance & complete the renovations along with carrying cost (estimate $15k) , and then sell the property at a higher amount (est $215k) ultimately giving the owner a portion of the profits (20-25%?).

Profits from short-term flips will be taxed similar to ordinary income, so you might be giving a good size chunk of the profits to Uncle Sam each year.

If you install, I wouldn't give access to tenants to monitor, We had outdoor cameras at a big complex I managed, people knew how to skirt them and was only the stupid ones that were actually occasionally caught, we had one in the pool area and that we used alot to monitor the swim area where it made sense.But they get wise, they rip the cameras out, or bust them up.I couldn't really see a reason for your size property,, I actually think it would make new tenants wonder why you would need them, as if the area was a WATCH ZONE..

Long story short, after corporate downsizing, I lost my job and relocated to my home town of Tulsa, OK; and not having knowledge of BP to help me realize what I was about to do may not have been the the best decision, I sold my portion of the company to my partners.

@Beau Griggs Regardless of the owner financing portion, why do you want the properties?

But it's all worth it because I'm trading a smaller portion of profit for something just as valuable; networking.I want to get into investing myself, and if I'm able to make connections at my age and through being a real estate agent, I will have a decent network around me by the time I'm able to make the plunge.

If this was my project and you told me you weren't "using your insurance", and balked at filling out a w9 on what appears to be a job of significant size, I'd probably bail and try to get my deposit back as well.

If you want to be in the rental market for students, it is ok, but the competition will be higher because the size.

I'm praying I might have some legal recourse now that our divorce is final to recoup at least my portion(since I'm legally on the title/deed) and we agreed to split all our assets down the middle.

Many municipalities have restrictions on the number of occupants permitted per bedroom, sometimes varying depending on the size of the bedroom(s).