@Ryan Klemetson I skip the lawyer most of the time in IL (you must have one in IA, and I review my own contracts and then close at the title company and have them perform the title search, rather than paying the lawyer to do it.

Having said that, I have a self-directed IRA and am using it to invest in performing promissory note (Some education on performing notes).  

I have a referral for you for stabilized performing rentals with @Chris Erwin

And I know it is not good practice to not account for property management in the expenses, but at the outset (early years of ownership for our first few properties) should I discount expenses based upon performing our own property management to add the 10% property management to our cashflow?

The banks want to see that the asset is performing well and can pay for itself.

When we focus on the moment to do the task and not the outcome, it releases anxiety.

None of the other top performing markets (based on appreciation) have similar infrastructure in place or coming on line.

Values the advantages of a high-performing team.  

So you have a potential for a financial loss.Also, if a broker brought you this deal and you can't perform, it will hurt your credibility and possibly never getting a deal from this contact in the future.Now all this being said, I have closed a couple large multifamily deals where I didn't have ANY money raised at the time I went UC.

I especially enjoy the podcasts as I can listen and learn about different aspects of real estate investing while completing other tasks.