Any reason why you need a "private person" here? 

It is actually the only thing I do. 

Consult someone who actually knows what they are talking about/does this for a living, but most of your tax savings are only going to offset the earnings of the partnership rather than one of you individually.

I don't see any reason why this wouldn't be an acceptable solution.

Cleaning up our work area, I remembered what my old co-worker once told me on the construction site "There are 3 ways a job gets done: One way in our head, another way planned out, and how the job actually goes." 

Here’s why:Putting aside the actual physical danger of living in a fire prone area.

If it is a high-end project, I would spend on an actual lIcensed designer.

You may actually have it worse in NYC as opposed to the rest of the state, make sure you look up the exact laws and/or speak with a lawyer.

This is the "dream" of many investors - retire with paid off rentals with cashflow to enjoy their golden years.5) Hard Money Lending (HML): this is actually an easy one.

You're not in the position to be a cash buyer...as a former wealth manager, it's simply not a good play for you for many of the reasons stated above and more.