I reached out to the neighbor and politely explained this fact and told him if he wanted to get something in writing for the future to let me know.

You need a good CPA to explain the details to you.

You would have a hard time explaining that to a judge. 

What's your objective?

When they graduate I will explain it to them.

All costs associated with the purchase explained, and as a %, and in dollars for a sample deal (referenced later in the book as needed).Chapter 2.

Also I recommend checking out the channel on YouTube if "Airbnb Automated" he has a free course explaining from A to Z how to arbitrage on Airbnb.

They'll help you structure the loan, explain the fees and walk you through the process. 

While my objective are self serving initially my goal would be to get to big enough size to be able to "pay it back" for sure in a "I'll scratch your back" mindset.

Although he might not tell you straight up what the issue or why a particular property does not work for him, you can read through the lines as he will most likely explain in general what he looks for when evaluating what to keep vs sell.