And thank you again for your service; your discipline and experience will undoubtedly serve you well in this new venture.

They try to save $250 on an attorney by preparing their own deed9.

The easiest way is to Be prepared to lose the money you put in to the deal, and screw over the seller’s credit, or pay off the loan in full.

Some years ago, the IRS compliance chief speaking at a CPA conference told us explicitly: we will impose preparer penalties if you guys take an incorrect position based on OUR incorrect publications, because you should know better. 

I am working on the feasibility of a joint venture multifamily development. 

., so make sure you're familiar with those to avoid any issues.It sounds like you're on the right path, and with the proper guidance, you'll be well-prepared to make your first purchase.

I am not expecting things to work out as you implied but prepare a good exit plan.

Construction debt is expensive right now, but with the Fed (most likely) preparing to cut rates, the cost of construction debt appears to be on its way down in the coming months.

See my comments on a similar thread I just opened, regarding how to prepare for a heloc https://www.biggerpockets.com/forums/311/topics/1202305-helo... 

Any company insuring your properties without an inspection most likely has a clause buried deep in their policy allowing them to deny claims for conditions found on the property that do not meet their UW standards and they will deny you claim based on "the house should have not been insured with them anyway".Although the inspections can be annoying look at it from the other side.You pay them 1000 to 3000 a year to insure a rental property where they agree to pay out possibly hundreds of thousands of dollars if it burns down or up to 1 million if a tenant slips on a bananna peel and falls down the steps or the tenants dog bites someone and since you didn't enforce the tenant having their own renters policy to cover the dog bite the landlord's policy is paying out.The insurance company is very much like your rich uncle backing your business venture - you run the business, he takes on the financial risk from disasters, and doesn't even get a say in who lives in the property.Your rich uncle asking you to fix the steps, put up a handrail, etc which is in your and his best interest long term.Do you really want to rent out a property with a busted front step and a bad roof that is going to leak sooner than later?