Lower rent for initial months.

This is my first investment property.Proposed agreement:(1) Start at equity split 75% Me | 25% Mike Gives Mike an extra 5% equity from the start for his experience and the initial arrangements he made with agents and inspector(2) Stay at 75/25 split until 75% equity gives me at least the 80% initial amount I put in e.g.

I initially applied to colleges with a major in Construction Management but i've been reading up on the subject and noticed that most developers seem to have degrees in more business related fields.Would it be better for me to major in something like Real Estate instead of Construction Management if I want to own a development company some day?

Their initial scopes of work are typically lower than what other carriers/adjusters would write.

In fact when people initially lash out at me, I usually reply with "I know you came here looking for an echo chamber but...."

Comparable properties in the area are selling around $1.4m+, and every house in this neighborhood is selling over $1m+, so I figure there's a lot of wiggle room for profit if bought at the right price.My initial problem is that it requires a $100k deposit to join the auction, and starting bid is at $280k.

She rented from me and paid the first six months in rent initially. 

Nonetheless initially had our eyes set on a 165k ARV.

My initial plan was to have all of my rentals be close to me (I live in Ohio), but now I'm starting to consider investing more in Florida.

I'd be looking to do some major renovations then refinancing after about 6 months to pull initial down payment back out.