And even though virtually every sponsor agreement allows me to share investment information with others who might be advising me on it (especially when club members are bound by an NDA), I still ask the sponsor if I can share it, because it's a test.

Soaking up as much information as possible from the Bigger Pockets podcast, preparing myself for taking action, and looking for conections and building relationships.

Be sure to have good exit strategy for if/when that happens.A wise mentor told me once that until you've "Battle tested" a strategy for at least 5 years thru one full economic cycle, consider it still all good luck.

FHA is 3.5% down but anything over a 2 unit requires a cash flow test, with rates where they are I hardly ever see anything in Chicago that would work. 

Be clear she can be leave early without penalty as she is obviously unhappy but prepared that she doesn't want to.  

Living in a unit while doing renovations and preparing for our first baby was very stressful!

While a title company might provide a note and mortgage, it will not prepare a complete, bulletproof loan package.Our package comprises over 20 loan documents including a note, deed of trust, personal guarantee, lender’s instructions, business purpose loan certification, entity certification, various federal and state compliance disclosures, and more.

If you are a Real Estate Professional this cap does not apply and hence why it is such a powerful status for tax planning.As @John Underwood said, Schedule C income categorized by "substantial services" such as turn down services, meals prepared, or special activities provided.

We explained why we decided not to sponsor the deal, how you could approach the situation better next time, and what you need to have prepared when you approaching other sponsors in the future.

Since you mentioned retirement its always good to be prepared for the "What if factor" meaning "If" something should happen or come along unexpected.