K1s show your share of income or losses from the partnership, and you include it on your respective personal tax returns.Now, to your partners.

However, purchasing the replacement property from an estate where your mother-in-law is the executor and other heirs are your wife's aunts and cousins raises potential related-party concerns under Section 1031(f).The IRS generally prohibits 1031 exchanges between related parties unless both the buyer and seller hold their respective properties for at least two years after the exchange.To stay compliant and avoid disqualification, ensure:The estate sells the property directly before any distributions to heirs.You hold the replacement property for at least two years.The transaction is conducted at fair market value with no prearranged agreements.Given the IRS scrutiny of related-party 1031 exchanges, consult a qualified CPA or 1031 exchange accommodator to structure the deal properly and avoid potential capital gains tax liabilities.This post does not create a CPA-Client relationship.

You’ll put 5% down but get 2% back on sale (which might pay for your closing costs) and then do a rent by the room to cover your expenses and downpayment for next year) Not sure which university you are at but both Henrietta and South Wedge are solid places to start (serving RIT and UR respectively) Good luck, I personally think Rochester is a great area to start due to constrained supply with a growing population

These three smaller companies are popular with Bigger Pockets members, and their respective leaders are active on this forum.

Who are the most respected and price effective structural engineers that work your target neighborhood? 

In the last two days, I met with two business sellers who have net profits of $580,000 and $600,000 per year respectively. 

Just because someone is buying at 70 to 90% of value doesn't mean anything with respect to the 1% "rule".

Admittedly, I am not one that typically finds paid mentorship very valuable, but I also respect that my degree is in business with a focus on real estate, and my first job out of college was in real estate (so it is a little hard for me to take my 20 yrs of knowledge and rewind it to try to view mentors from a completely fresh lens).A couple points: I view mentors, especially these expensive ones as a catch-22. 

Now, with respect to crowdfunding, the pertinent characteristic for you would be the returns required by those investors - perhaps they are lower than other investors, but it's also possible they expect higher returns.

So you and I agree on a lot of stuff… However, I do want to clarify that I am not against Sub2 if done respectably in the right situation.