All while this is happening we all thought we contribute a certain percentage of our checks and put it into our 1st investment.

There's a ton of useful information on this site that I thank all for contributing.

Anyway thanks for all the info here and hopefully can contribute at some point! 

I know I would pay the tax on it now, but it was all tax deferred contributions any way and I’m going to pay the tax when I retire.

That sounds a bit expensive for a deed and a contribution agreement.

We are able to pay ourselves a salary and contribute 4500 to the cc bills every month after all of our overhead but it would take a year to pay it all down.

FHA financing + 5-6% to the price (FHA allows up to 6% of owner contribution to the buyers closing cost) - if my seller absolutely don't have other offersThe more contingencies you add - the less chance you've got to get the house.The better bargain is the house - the cleaner the offer seller will accept.As for your first deal - don't wave inspection, it's not for you. 

Profits can be split based on the percentage of equity contributed plus your time/effort in self managing and being the boots on the ground.

You have to consider number of factors before doing this, the property would have to be appraised and would be added to your income for the year in which you make the distribution, likely pushing your tax bracket up.If you simply wish to get into self-directed investing you may want to consider truly self-directed Solo 401k, it has number of advantages over SD IRA such as contributions limits 10X higher, no need for a custodian, checkbook control, exempt from UBIT on leveraged real estate and more.

I’m new so I don’t have any to contribute that are specific to REI, but from my other businesses.Waze + a calendar connection - easiest way to get traffic notices for departure time for your next meeting Outlook - it’s more powerful than the default iOS mail when it comes to signatures, scheduling, and managing emails Evernote - great note taking and overall brainstorming tool Dropbox - self-explanatory.