I don't believe you could benefit from the capital gains exclusion.I'm also not sure this arrangement even provides you any real asset protection. 

Would be happy to provide any additional information as needed.

And has repairs listed at 16k-20k but from looking at the pictures provided I know it’s incorrect.

For example if you are putting in 10 washing machines you will need more hot water capacity then a residential hot water heater provides. 4.

HOA's take a substantial amount of control away from the owner and the monthly dues will always have a negative impact on your cash-flow.

You can find a house today that will provide you a place to live.

Happy to provide some resources if you need. 

My “clients-first” approach means that you’ll be working with a professional who listens to you, provides expert advice, and works hard on your behalf.

@Mitrah Rasti the deed and loan are separate issues.Your partner should be able Quit Claim her ownership to you without triggering the lender's due on sale clause - as one of the lendees (you) will still be on the deed.You should check with your local municipality to make sure how this may impact your property taxes.You should also check with a tax professional to see if there will be any income tax impacts of the Quit Claim.Lastly, NONE of this will remove your partner's name from the loan.

I like the fact that he provides affordable housing opportunities for undeserved communities and many of his exits on the loans are said to be lease options for individuals and families who otherwise might not be able to afford or qualify to buy on their own.