I am trying to help you avoid the traps that all of us have fallen into.Your bravado is wildly misplaced and your biggest problem is that you are ripe for the picking by any guru or JV partner right now because you think you know a lot more than you do and you only want to hear the nice, warm stuff.

This idea that something is wrong because rents are dropping is just misplaced. 

Why would someone give you any money and more so, why would you take someone you know's money when you have no experience, no game plan, and a misplaced idea to buy distressed which is the hardest thing to buy and salvage for new investors?

Attention new investors: As I’ve immersed myself in the BiggerPockets forums, I’ve observed an extreme emphasis placed on asset protection by those entering the business but their approach and where they decide to allocate their time and resources is misplaced.

We are trying to help you not step into the mud puddle you are about to.Your attitude is a classic combination of a lack of self-awareness, misplaced bravado, and anonymity.

@Drew SygitMy dad was...a weird guy, propped up by this enormous misplaced pride and self-confidence in his intellect coupled with this cheap self-pity and hypochondria.

You don't seem to be absorbing peoples' concerns about the difficulties inherent here, experienced people telling you your budget is far too low, and so your confidence seems misplaced to say the least. 

This created lots of fraud and title company underwriters such as First American sent out letters 10 years ago (I had a copy which I have misplaced since) that buyers must have separate and good funds and cannot use other parties' funds. 

You might want to say that you don't want to be held responsible for their mail, incase some of their mail gets either misplaced or you end up getting accused of something.

I made a few tweaks - here is version 1.1 - please PM and let me know if you see any major mistakes, or misplacements or have any improvement feedback.