Readers are directed to seek professional advice.

You must keep the ownership percentage the same at all times and all income/expenses must be split according to your ownership percentage.Be sure to seek help of a professional who can guide you and structure this correctly so you can avoid violating prohibited transactions rules:https://www.irs.gov/retirement-plans/plan-particip...

Depending on your goals (investing and professional) you may not need a RE license.

I am a senior undergraduate student at Virginia Tech in Blacksburg, Virginia.

Doing our first flip in Scottsdale Arizona and the neighborhood is a mix of the residents that are not quite senior citizen but near or at retirement age and families with teenage to older children.

An exception to this is areas that have a higher population of senior citizens.

I am an investor, self managing landlord, and GC, I specifically don't Want to get a realtor license so I’m not considered a real estate professional for tax designations so when I periodically sell something, I still qualify for long term capital gains.  

These are professionals with additional training and a stricter code of ethics.

Listing the home for sale will be $169K  Then I threw it on a website for rental at $2200 and there was alot of interest in renting it (and from what I could tell they were professional/career people which is typical in the area). 

I've gotten professional quotes so it looks like I could save a lot.