Spending a ton on property management doesn't seem like the best move.

I would spend hours on the phone assisting them with their deals, I’d write all their questions down and then sit with Dave and the other PPR partners, after work getting their answers.

That's understood.Page 19, Two faces of Debt: Federal Reserve Bank of Chicago - "banks exchange a borrower's "promissory note" or "security" for a check that other banks can deposit" (so the note is funding a check) same page states, "...the borrower can spend the deposit acquired by borrowing"... 

I wont need to spend that money now.   

You can spend as little as $100 to form an LLC, or you could use an attorney and spend $1,000 or more.

If I was in your shoes I would find ways to streamline your day job so that you are not spending as much time in that role.

Insurance doesn't cover anything anymore and we can almost just pay for all damages with the money we spend on it! 

I did not want to spend 50K on doing separate meters for where I have my rentals it would cost me this much.

I just meant to say that it's our next goal to build that up, having just gone on a spending spree on fixing up both properties in a short period of time.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.