This is very inefficient especially in terms of rocking, mudding, taping, and painting. 

Good luck and maybe add your market details so local experts can weigh in.

Just an FYI - while this forum is a good place to ask questions like this, your lender and realtor should be answering/explaining all of this in detail for you. 

Better to set it up as a more equal partnership with neither of you living there.For taxes, you MUST find a good, real-estate knowledgeable accountant and discuss the details with him.  

To do this present your opportunity with all the details for assessment. 

Staggered refinancing, rather than refinancing all at once, allows you to take advantage of favorable terms as they become available.

We would likely look to rent out Long term or Mid term.

One option could be to purchase a distressed property with a bridge loan, complete the rehab, and then refinance either through a rate and term refinance or a cash-out refinance into a DSCR loan.

Our focus will be long term buy and hold multi family units.

"Who really knows, we thought life was completely over when Covid hit and it was the best years in terms of growth.😂 LolThe market ebbs and flows.