The more I thought about it, the more questions it raised and my insecurities got stronger and stronger. 1) Get Basic Knowledge (at first, but continue learning). 

Looks like this money might be better used in different ways or in a stronger "deal".

The stronger the national tenant and guarantee the lower cap rate generally the developer can sell for.If I have to pick a smaller unknown restaurant local to  a market in expansion mode versus a national one I have to get a lot of concessions from the restaurant.

I've also made a commitment to myself to come out of my shell and shed my introverted skin, so I'll be attending my first real estate investment group meeting on Wednesday.I'm nervous, but my desire to create a passive income stream so that I can quit my job burns stronger than my fear.

Use your equity in a partnership with a stronger partner. 

I don't have the stats for this but I am sure median income per capita now in the Seattle area is much higher now than in 2007.The tech industry is much stronger now than in 2007.  

The only legal advice anyone should take from an anonymous stronger on the internet:  Talk to a lawyer.

the deals can be found for someone who's willing to put some sweat equity into a fixer upper, and whether the market appears to be getting stronger or weaker.

When you need a guarantor AKA co-signer, you want that guarantor to be far stronger than your minimum tenant qualifying criteria; sounds like you have a case here where guarantor couldn't even qualify to be your tenant on their own.

., if you are sued for any reason, they cannot come after your personal assets. and lets face it, people are sue happy these days. protect yourself and what you have. second, always borrow money to move ahead in this business. using other peoples money risks none of your money and gives you stronger motivation to work thru the problems you will ultimately encounter. the trouble for you is that the business card will come only wen you can show 2 years worth of tax records on that business. if you form the LLC now, you won't have that 2 years of tax returns to show for.......... two years. you may have to get a card based on your personal information. if you need to, start slow and low, but get started. you will be amazed at what you can do with the little you can start with. good luck