To me the biggest takeaway is that as real estate professionals, we always talk about location, location, location.

And it can work really well for you as long as you pay attention to the statute requirements.In order to defer all tax you are selling investment real estate and buying investment real estate of at least the same value you sold. 

This is a new venture that I'm looking into and real excited about. 

That's where the real negative effect on the market will be.

Once the funds are up and they can't repay the loan(s) back because offering free services are just enticing new investors that do not have a real system setup.

Also, if your wife and her parents were the real estate investors first, why aren't they weighing in? 

In real estate its messy and there are always repairs and capX projects that seemingly pop up from time to time.

There are plenty of varying job opportunities in the real estate industry.Ask yourself: What skills do you have?

With your background in real estate (STRs and assisted living), commercial MAY make more sense and then if there are any residential deals you can take them as well.

2) How many hours/week do you really want to commit to for real estate?