Skill Constraints: Individuals may lack certain skills required for various aspects of real estate investment, such as construction management or legal expertise.

I completely agree every real estate investor should have their WHY clearly defined. 

That is just the training aspect.

To help new investors, I've produced a five-step guide that summarizes the primary reasons for investing in real estate.Step One: Identifying GoalsThe first stage is to help investors clearly define their objectives.

They want a local contact for the property which really benefits them not at all and since the role isn't clearly defined they don't require the property manager of record to be a real estate licensee even though to be a property manager within PA requires a license. 

•Set Repayment Term: Comes with a defined repayment period, usually shorter than a mortgage, leading to quicker payoff but potentially higher monthly payments.

My deed restrictions do not define "single family" or "single family residential" and this term is only mentioned once (as shown above) in the 7 page document.

Most problems with Construction contracts and the resulting legal issues are due to the terms not being well defined in the beginning.Both parties need to know exactly what is expected of each other.

You may want to specify that you are 51% and she is 49% so that any final decisions about the property rest with you.If you're going to handle all aspects of this property, I'm not sure 50/50 is fair even if you're both contributing the same amount of funds.

Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).