@Tim Bergstrom I am a lender with a local bank here in Louisville and an investor personally as well. 

You go out and buy an apartment house and then hire a property manager so you don't have to personally spend time on the property.

I agree with Andrew’s comments particularly because this is a home you personally lived in and know intimately.

One thing to note when getting conventional mortgages and spouses.There is a 10 limit per person for conventional financing.You can either do 10 conventional in each person's name which would be 20 mortgages for 2 people or if you do the mortgages jointly, will only allow 10 in total.My thoughts are not to own joint assets until you are both married. 

Myself personally I'm invested in Buffalo and NYC, but that's because it made sense for *me*. 

Any insights, personal experiences, or advice would be greatly appreciated!

But now with the joy and headaches of non-metered units, trying to wrangle 3 different set's of persons into playing nice, etc etc.. 

I personally am interested in creating a long-term rental portfolio but I'd be interested in hearing any strategy, ie. house flipping, short term rentals etc.

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.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.