Purchase price: $55,000 Cash invested: $60,000 Sale price: $245,000 Property is on the market right now.

The idea is to build a buy/hold portfolio that we own 50/50 with me doing the work and him providing the up front money. 

Its referred to as a 1031 improvement exchange.

Irs determination “You're considered to use a dwelling unit as a residence if you use it for personal purposes during the tax year for a number of days that's more than the greater of: 14 days, or. 10% of the total days you rent it to others at a fair rental price.”

Sounds like a cool plan.Welcome to BP!

Now I’m not familiar with the subject area that your question about, but you can get cash flow from day one by paying cash.

Just messaged him a link to this post, hopefully he can pop in and share.

I know several in this area. contact me on a pm?

@David Bohn Thanks for taking a look. 

Good morning all,I was talking to a friend today who lives in Dubai.