I'm young at age 23 but looking to build up money and capital.

They are Lima One Capital and Bridgewell Capital.

They provide the capital and I provide the management and deal location, we split profits/tax benefits 50/50.

So say you held a year, since you're not using the DFE, and you want to just get your lender paid off at 45K and your initial capital back at 20K.

I'm a veteran building capital for my first multifamily property.

In Chicago, the southside has an area called "Englewood" which leads the city in murders, violent crime, etc" Chicago also is the murder capital of the US (despite the strictest gun control laws in the nation a discussion for another day).

From what I know (I'm not a CPA) you do not pay capital gains tax if you sold your personal residence for up to $500k profit which includes you and your wife (250k each) .

I would ensure you get a formal partner agreement that spells out roles/responsibilities, timing, taxes (capital gains), cash flow, etc.

As you mentioned cap rated are extremely low, the only value to be found I think would be large rehab projects which would require considerable capital and have a larger degree of risk than I'm looking for now.

I love the strategy of flipping houses to build capital to add rental properties to your portfolio, in fact, that is what we have been doing with success for a few years now.