My numbers show about $200 a month in cashflow (not ideal, but  willing to take it to get the experience and also my belief that it will appreciate).

Essentially this means you take their existing property and exchange it for a home of equal value without having to pay capital gains tax and any other federal income taxes (I am not a CPA but I live in San Diego as well and can recommend a great CPA who does a ton of 1031 exchanges and could explain it much better!).

VRBO is giving you equal to a 5 star rating  for every cancellation related to Covid that you refund the guest. ( and giving you equal to a 1 star rating if you do not refund or reschedule) If it is a cancellation not related to being able to travel due to Covid I would stick to my cancellation policy.

Use some that are below, equal to and above your value. 

Again, if equal each unit would have a new basis of $1,150,000.  

I'm sure you can get free advice from a CPA, but it is my belief that you only need to live in the home 2 years during the past 5 years to get 100% of the capital gains deducted and you don't even need to own the property for the entire 5 years.

(Points financed w/total project cost): $8,800 for pts.Total Project Cost: $448.8KARV: $545K conservativeEstimated rehab time 4 monthsEstimated 3 equally spaced draws on the rehab costIf anyone can help me reconcile these numbers including the payout to each "partner" it would be greatly appreciated.

I believe the general belief seems to be that you'll never collect on those debts anyway.I would like to hear some success stories of landlords who did get a judgment order against a tenant and were able to garnish wages, bank accounts or something else. 

Rate looks high for an owner-occupied property.You have "$1" under Loan Points. 1 Point is equal to 1% of the loan amount.

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff.6.