Stages of change:PrecontemplationContemplationPreparationActionMaintenanceTerminationI sense that your partner is probably in the first phase of your REI journey, so thinking of "cutting your losses" may be premature.

At a bare minimum, you would have to target a 5-unit... but if we're focusing on 'how many is too many,' we're kinda missing the point: the first step should be to set goals and then let those goals drive you toward clarity on next steps and property size/type.Regarding investors: I think it's always a good time to build new relationships and strengthen your network, but until you have either a 1) real deal to talk about, or a 2) a model/mock deal that reflects a similar deal you expect to find... then it sounds premature to approach investors about equity capital.Recommend heeding the wisdom from @John Corey @Lane Kawaoka @Chris Grenzig, above.

There is a good chance investor will run out of 60 days and result will be tax and penalties on the entire amount, as it will be considered premature distribution from an IRA.

Any inspections with tenants may provide some insight, but may really only be visual and premature.

Your nice things will either go to ****, or wear prematurely.3.

Make sure you are calculating off your net amount and not the gross.I'm no lawyer but forming an LLC to buy your first asset might be premature and troublesome.

I originally planned on renting because its a little premature but this seems like it has some potential to be my office space and rent the rest.So far i have only extensive single family experience (50+ homes) so this is similar but completely new to me. 

All these uses are not expressly prohibited by the contract (I'll bet they are, but suspend disbelief for now), but all those uses will generate premature wear and heightened expenses and/or limited use of their asset in the future. 

I started wondering how my wife or someone else would figure out my investments in the event I die prematurely.

It seems that a lot of the advice has been to run from this and in my opinion, that is premature without the balance of the info.