I think this will also push me a bit more towards fixed rate debt (as @Brent Coombs suggested), although it's just hard to make that trade-off well given the levels, a 7/1 ARM saves a couple hundred bucks a month vs 30 fixed, which would go a long way to either paying down the principle or compounding that cash flow into additional properties...Thanks folks

For my first deal or so I'd envision contributing the due diligence on the acquisition, performing all project management of the rehab (while paying contractors at an arm's length), refinancing / financing the property and then performing the subsequent management.  

I’ve read books, gone to seminars, and will be attending a workshop in a couple of weeks where I already know that they will charge me an arm and a leg for their mentoring program that I can’t afford.

I worked 10 years for the consulting arm of a big 4 accounting firm, helping Global Investment Banks, Insurance Firms, Multinational Asset Managers, and Hedge Funds improve their back office operations, specializing in implementing investment performance measurement systems.

Then it's domestic buyers who would stop purchasing, a group that despite the press is much larger than all the foreign buyers put together.So, long answer but short on conclusions; it's why US President Harry Truman wished for a one-armed economist (so they couldn't say 'on the other hand').

I read that the Gates decision says that if I tear down the old house to build the first two then I lose the capital gains exclusion.My question is: Is there a way to structure an arms-length partnership to buy the house and two lots - allowing the exclusion - but then also allowing me to gain some of the upside of the new home sales?

The Banks want your Arm & Leg since I am Self-Employed and seem to only care what you make Monthly instead of Property Assets and Liquid Assets.

It seems to be somewhat of a problem to get a qualified roofer to replace copper for less than an arm and three legs!

You are allowed up to 1 month so as long as the cleaning deposit didn't exceed that additional amount you could try to argue it was all just security deposit but you were just trying to make it more explicit to her things that it would be used for.  

Preferably a 50/50 deal without me having to pay an arm in leg to get started.