Practically the entire island is designated an OZone.

Use simple design choices for long term rentals.

These loans are designed for investors and they can be written in the name of an LLC with a personal guarantee.

It doesn't need to be extreme but you definitely want the ground to slope away from the house.Having finished my own basement, one of the things you can do is design it to withstand small amounts of water seepage. 

Some people specialize in that arena and they do very well at it because they thoughtfully design their business operations around those pros and cons. 

The partnership will likely be designed for this deal only, as we all intend to take our profits upon a profitable exit post-renovation within 3-9 months.

I would still use the designation, just ask a Broker the do's and don'ts for your state while on InActive status. 

The tax law is designed to encourage home ownership, therefore capital gains on personal residence are not taxed, aka $500k exemption aka Section 121.Step 3.

They can help you find and analyze deals, and help you with your design/construction choices.

This means, at each step along the way, you would/should be focused on a different series of events, in order to reach the accomplishments at the timeline you are at in your plan.Now, to design this plan, you reverse engineer it.