Great reason for not pulling deductions forward.I have been retired from a W2 job for some time and my income is at an all time high and will just keep going up with more RE investments. 

going to commercial financing on 5 units will significantly hurt your valuation.  

I would retain control during my lifetime, then the property would go to my daughter.

Any tips?

And then go back to the broker/lender once you are serious or have it under contract about the deal for exact rates and terms

Nouveau Riche is the same even though I don’t think it is a true pyramid (not too sure though) they get you interested by advertising “RE investor looking for apprentice: 20,000.00†If you take the ad at face value one would be led to believe the “investor†was going to pay you a salary to help him with his business and teach you the ropes.

I'll provide some tips below.2.

Down the road, you can also use the 1031 exchange to defer taxes as you go from property to property, as long as they are like for like.I hope that helps get the ideas flowing....

I've also consulted with a lawyer but wanted to check if anyone else has ideas about how best to go about this. 

We do lending and we ask the question - if you have been doing this for ten years and don't have any money where did it all go?