In other words, I think we will probably have to be on the hunt for a very good deal or a very distressed property, and will not be investing in million-dollar multifamily properties... yet!

You also could probably work with any number of the CPAs on BP who work remotely if you feel comfortable with that.  

You would probably be surprised at the number of people who end up divorcing because of differences in monetary values, comfort levels, and expectations.

@Joshua MartinSince you might sell next year, a HELOC is probably the better short-term option—lower upfront costs and flexibility to pay it off when you sell.

That will most probably be offset by an increase in new mortgage costs and increased rates. 

If you have a 20 year timeline, I'd probably recommend B areas closer to the city or in the better school districts in the suburbs for the highest combined ROI over that time period.Right now you can expect to find decently turnkey multis for about $60-$125k/unit usually all at least hitting the 1% rule in that range.

If things goes the way I anticipate, Austin will be probably my 3rd largest position in size but primary financial position. 

But, if I were in that situation I would probably not be buying any directly owned properties at all (and would instead be investing in a diversified fund).

In your case, you are probably better off buying a break-even deal in Tampa then a deal with $200 cash flow OOS.

This structure probably just means more grey area which means more legal fees and perhaps less chance of either of us being covered at all.