I am considering signing up for the course and taking the exam in NY.

I've been listening to the podcasts for a couple of months now, as I have long considered getting into real estate investing, but never really got up the nerve to get started.  

My spouse and investment partner are getting cold feet (probably just nerves with the first deal).

Any tips for overcoming my nerves and striking up conversations?

@Tony KimThat is one of the acceptable ways to split the basis yes.Don't forget to examine your HUD/closing docs. 

You'll need a title examiner to really dig in and try to find out.

.- I suggest re-examining the cap rate to ensure that the NOI is based on lot rents only.  

it may be that the IRS interprets lodging as hotel-type only"They could take that position, but we first have to examine what is lodging as it pertains to Sec 179. 

She lives in Baltimore County and apparently things are stuck at the county medical examiner's office.

I'm going to list off some of the lowest hanging fruit from that perspective below:Attic/ceiling space often can be helped immensely by blowing in additional cellulose insulationWindows and all wall terminations should be examined and caulked/filled with expanding foam insulationWalls can often be supplemented with additional insulationRim joists, basement walls Look into selectively upgrading your main appliances (water heater, air conditioning, furnace) with high efficiency unitsOld fridges use a lot of electricity - you might take a look at what you have there and consider upgradingSome utilities have programs to offer rebates/incentives for upgrading much of the above so I'd look into that if I were you!