The team seems reputable, but it's also my first investment property and I don't want to get burned. 

I had no clue what I was doing and lied to cover that up, it ended friendships, gave me a reputation among sellers and buyers, it was hard to make anything happen.

There are no tax consequences when you do so.Then you can convert your Traditional IRA into Roth, and move to self-directed IRA.

If they can't handle the home, for whatever reason, they can break the lease and suffer the consequences.

I am having some trouble finding a reputable attorney in Southern California, around the Orange County area, that understands real estate investments, syndication, and appropriate business structures.

I am having some trouble finding a reputable attorney in Southern California, around the Orange County area, that understands real estate investments, syndication, and appropriate business structures.

I think it is awesome you have your eyes set on the future and want to set yourself up for when you feel you are ready to invest.It seems that you are looking for a "mentor" that will help you learn the fundamentals as you progress which is great; however, a lesson I learned is that it is difficult finding a reputable mentor without offering some sort of "value."

There are some things you can do to protect yourself, such as getting multiple estimates and sticking with contractors that are reputable (for example, I found that sites that have a rating that contractors need to maintain like Angie's List provides better contractors versus places like Craigslist where it's the wild West.).

Management seems low...never seen a reputable firm below 7% of gross rentsYou have an ARV of $400k, but your analysis says CAP places value at $323K...if the value is $323k, and you pay $370k?

When I do acquire properties from the sale, the cost to “qt” the title from a reputable law firm is always factored in.