We (two partners and I) are thinking of doing the same things, and we also have our SOLO401Ks with @Dmitriy Fomichenko.Can anyone chime is as to whether or not an 3 way LLC's 'buy sell agreement' that sets a price at a 'multiple of rental income' (example is 100 x monthly rental income = purchase price.... which happens to be VERY close to the tax assessed value) can be used for valuation purposes instead of a formal appraisal?

Removed wall between the formal dining and living and walls between the living and kitchen.

I would caution about formal pre-approval until you find a property, but worth finding a good lender who will guide you without pulling credit, which many are happy to do.  

Hopefully, they will accept what they had been told before I agreed to rent to them, and that has now been formalized in the KAPA letter, not to mention in their lease - that they could not add another person to the tenancy. 

Think of the number of people here in Colorado without a formal education but anything but fracking knowledge it's the same story but just different characters.

I'm always a fan of more education, @Janelle Hicks, and the formalized nature of a MBA will give you a foundation of knowledge and credibility in the marketplace.I don't know anything about AACSB, but reputation matters.

You don't even really get into the important details of contracts which would be the only helpful part of formal realtor education anyway. 

You may now have the LLC in order to have a formal contract arrangement with your partner, which makes sense.

A good real estate attorney will be able to quickly advise on your best course of action in terms of formalizing your partnership.

I am considering doing one or several things; I want to obtain my real estate license in order to have MLS access personally, visit properties in the local area where I will begin investing, and the benefit of saving on commission. one reason why I am highly considering the license is to be able to learn the art of estimating market values of the properties and ARV's by analyzing comps.I also considered doing just the beginning appraisal trainee classes to get formal knowledge of the process of determining residential values.