Hi @Avrohom Greenif $20K is all of your checking's and savings then I would suggest only using about 1/2 of that so you are not "house broke"If not and you actually have $20K allocated to buying real estate then that enough.

I have allocated $250,000 in savings specifically for investments, aiming for a conservative down payment of 3.5% to 5%, depending on the deal and financing terms.I am planning a visit to Florida in June to scout properties and gain a deeper understanding of Tampa's neighborhoods, including the greater tampa area.

For a triplex,  one third of the property taxes is allocated to the owner portion.The rental portion is treated as a separate property, depreciated and it's separate expenses allocated to it. 

Some of the adjustable products, the payment stays the same, but the principal to interest allocation changes to the point where people are only paying interest and are now in a negative amortization where the amount they owe is actually going up.

A fairer allocation of risk here would entail your partner signing for the loan and your providing the collateral. 

No expert, but I would imagine that the gain gets allocated 50% to you/your wife and 50% to the inlaws.

Again, folks who understand the time value of money will opt for much better ways to allocate their money. 

We just need to make sure the contract is carefully drafted so it is clear who is paying for what, allocation of risks, profit sharing, etc.

I made a 5% down payment on the house, and another 5% down payment was allocated towards the rehab expenses.

Make sensible financial decisions by allocating funds for unforeseen fees, insurance, property taxes, upkeep, and mortgage payments.