The main criteria is consistency with adopted plans.

I think by waiting to last minute to put things together you miss items and year end tax planning becomes problematic.

I envision this portfolio supporting me during my retirement years—though I still plan to work, just in a different capacity than I do today.I recently finished reading "How to Invest in Real Estate: The Ultimate Beginner's Guide" by Josh Dorkin and Brandon Turner, which has been incredibly helpful.

Plan to make some tenant improvements to push rents closer to market rate for the area.

And if this is the plan, it couldn't be announced at onset.

During the partnership, you can jointly manage the property, increase its value, negotiate a flexible repayment plan with the seller that allows for larger payments after the property appreciates, ensure a written agreement that clearly specifies repayment terms and timeframes and refinance, and the sellers are able to 1031 at their leisure? 

I'm looking to having my mortgages paid off as I plan on early retirement and the rentals are part of my retirement income.  

Honestly, Tampa checks all the boxes for cash flow, appreciation, and long-term growth, so let me know if you need more specifics or help with a plan!

It sounds like you’ve got an exciting plan mapped out, and I love that you’re thinking of starting a property management business while building your own portfolio—that’s a smart move.

I'm planning to finish all of these this month.