The math pans out and you will always have a bigger nest egg in retirement going the real estate route than the 401K route...Just make sure the properties you buy cash flow positive.

And I’d have or work to have a good nest egg for that property- like simply save the management fee and cashflow to build safety net.

Of course with the 1.3m you can sustain for a long time, but you're spending that cash nest egg. 

He's has worked on his job or business, and set aside this money as a nest egg for he and his family.  

I could've feathered my nest nicely with an extra $50K worth of feathers every year!

My grandfather always drilled holes in the stump then found a termite nest nearby and would throw a shovel full of termites on top. he thought it worked but I would be willing to bet you do not want termites anywhere near your home though. 

However you mentioned your wife views this purchase as her/your retirement nest egg.  

Just keep building that RE nest egg Ben and you'll be fine.

@Patrick Desjardins  I offered I was a poor messager, mainly meaning I didn't have statute URLs just reading of others and I did hit the hornets nest square on I admit!!!.  

I guess what I'm really looking for is the simplest/easiest way to keep everything organized so when I take it all to an accountant in a couple of months, it isn't a complete rat's nest of information, and that it won't cost me a million dollars extra to transfer them into a smarter business structure.