I chose Accounting because I wanted to learn the role of accounting in business and had thoughts of becoming a CPA.

These properties are typically occupied by white collar workers and have amenities such as garages, in-unit washer/dryers, pools, spas, exercise gyms, the latest technology, etc.

.--- PLANS ---PM - On June 20, I intend to reduce greatly the PM role, from $300/month.

You hold title and have the JV agreement define your roles.

If the lender calls the loan or the seller for whatever reason refuses to allow you to exercise the option then you will be unable to sell if your tenant/buyer wants to exercise their option.

Unfortunately, it's going to be tough to have such a limited role in the investment (especially with limited knowledge/experience) and still be successful on your own.

I think you are right when you say I want a passive role in real estate.

Have someone who can fulfill the role of project manager and right-hand-man for all the actual rehab work.

Situations where roles aren't excessively defined or when one person does all the work and heavy lifting too often lead to resentment and infighting, which makes everything eventually blow up.

I am mainly looking at this as a tire kicking exercise to get some experience trying to evaluate these types of projects.