This will help us enhance our investment ventures and gain more knowledge about the industry.

Since you mentioned retirement its always good to be prepared for the "What if factor" meaning "If" something should happen or come along unexpected.

We explained why we decided not to sponsor the deal, how you could approach the situation better next time, and what you need to have prepared when you approaching other sponsors in the future.

I would venture a guess that the state of PROFITABLE is the primary importance.

Disclaimer: This is not tax preparation or legal advice. 

I would strongly suggest you speak with the lawyer who prepared your fund docs.

@Cody FlicekFinding a deal is only the start.Are you prepared to close a deal when found?

Was just curious what kind of questions we should be prepared and expected to answer from the lending companies and if anyone had any advice on good questions to ask each lender when vetting each company.

Not so dissimilar from most note joint ventures agreements.

Property managers can handle tenant screening, maintenance issues, and rent collection, freeing you up to focus on other aspects of your business or even new ventures.