I want this to be a vehicle for my wife and I to gain financial freedom and grow a portfolio to support the lifestyle we want when I retire. 

I am a high-wealth earner with years of employment ahead for me, so I will not feel the weight of this loss other than shame on me for not appreciating this risk better before committing.

You are ahead of the curve to some degree compared to others, but most moving into this space now lose.

Before you move ahead is there a particular reason why having this commercial space is important to the project or are you building this design because that's what the zoning requires?

A recent study from Rentcafe found that Milwaukee is the third most competitive market for renters in the US, ahead of NY.

A simple 5% return per year gets you $50k/year...and you still have the $1M to adjust to inflation by reinvesting into different vehicles along the way.Focusing on taking the long term returns ($$$/year) can be a better choice, but you have to look at the long term impact with all your options, compare them, and then make a choice.Do you think they teach that in school now? 

You'll be one of the wealthiest people you know by the time you are 40.As you gain experience, you may discover you hate dealing with tenants and this is the wrong vehicle for you to build wealth.

Ahead of schedule on inventory, short term pain for long term gain.

We are comparing RE wholesale transaction to trading-in a vehicle to a dealer for a wholesale value. 

Congrats on getting the offer accepted, and it’s awesome you’re thinking ahead about structuring the ownership in an LLC.