Student rental profits and headaches are high.

You’d be giving yourself some time to build equity (from both market and forced appreciation) and allowing for some (likely) increases in rental rates before turning it loose as a rental.In turn, you are giving yourself a much easier path to profit; whether it be through a sale or monthly cash flow.

When he moves out at some point we'd split all profits.

I have always thought it would be extremely profitable to own homes on Lake Chelan as either rentals or Air BnB’s.

I have had a few interesting conversations with 2-3 people in my circle of influence that want to participate in REI, specifically my recent success, but they are both gun-shy in committing to any specific "complex" real estate deal, and have sub-$5,000 amounts they are wanting to commit.Without getting too much into the minutia of their mindsets and arguments, it is important to note that they are willing to give a much smaller amount of money for advertising and, in return, are expecting a faster, albeit, higher risk return through wholesale deals obtained during that time frame.My actual question for you is: have you ever structured any kind of private funding "deal" that officially goes towards your marketing in exchange for a piece of the net profits for (insert time period)?

There is ample profit cushion for the borrower to pay back. 

It was easy to find a house I wanted to renovate and live in because I didn't have to factor in the closing costs at resale when I was making a decision but now that I want to do this for a profit I have not been able to find a property on the MLS that is priced low enough to make sense for a flip.

Are you selling LV and taking profits to Florida?

A couple of points on this deal: 1) If a wholesaler bought it for $3500 and couldn't make money with it, what is different about you and how you would profit when he could not?

Why not assume more control with your money and more profits by doing deals on your own?