=) The $1300 is actually just my portion.

Investing a large portion of you assets in one investment whether it be a real estate deal or a company can produce a much higher reward but comes with a much higher risk.

One thing to keep in mind since you haven't done a deal before is you will need to factor a significant portion of your budget to CAPEX and turnover.

If I sold him the building on a land contract for $250k, which is exactly what I have in it, on a 15 year payout, am I correct that the sale would result in a wash, no earnings to be taxed on, and the only taxes I will pay will be on the interest portion of the monthly payments for the next 15 years.  

The current balance is simply the original borrowed principal, less the principal portions of the payments made to date.  

My partner does not want to reinvest their portion of the proceeds.

Don't ever offer anyone a portion of the sales price of your property - offer a portion of the profits... that way the investor assumes some of the risk in return for more of the profits, but you aren't locked in to paying them a certain amount if you have to drop the price and get out of a bad deal

I have helped in the search, the rehab, the maintenace portions of them.

We absolutely love Austin and we feel like the opportunities in real estate, if done carefully and correctly, could be pretty lucrative (not to mention fun).We're contemplating downsizing our current home and using a large portion of the profits to start investing.

I am not talking about a flat fee service, I am talking about a fee for services brokerage where you get what you pay for and agents get paid up front a portion for their services with the rest being paid at closing.