I think if you leverage 70% of it you’re going to seriously cut into your cash flow and personally if I was going to have $7M in debt I’d prefer it to be spread over several projects built slowly.

Your most reliable source for this is a local, experienced investment team.SummaryIf your goal is financial independence, you must invest in cities that meet all the stated requirements, plus an experienced local investment team.

It really comes down to your risk tolerance and long-term goals.

You could structure a profit split or equity share where you handle project execution while they bring the funding.

.- Project Update: North Nashville Duplex- Why Should the Fed Cut Rates at All?

I am from Iowa so our goal would be to use it in the winter months (dec,jan,fab) and try and break even off the income from the remaining months. 

If you go with the partnership route1) You need to manage the money going in and out of the business bank account.2) File a partnership return and be responsible for issuing K-1's3) make distributions to you and your partner for cash flow that you receiveYou will likely spend many hours on a nice gesture.I may want to consider instead to give a christmas gift or a bonus for early completion of projects.

My ultimate goal is not using my savings during this process, because I want to train myself from the onset to think creatively and not deplete my reserves instead of finding a better deal or more productive relationship.

Did you set out to retire with real estate, did you have a goal or an amount you wanted to make?

Check out this podcast from BP, with Dave Meyer and Chris Clothier from Nov.we work with clients all the time in your situation and can help strategize your portfolio to reach your 10-15 year goals!