Document the details of this deal as your sample deal.2.

I watched every single video and did every single exercise they suggested including writing in extreme detail about my perfect day once I’d “made it”, making an audio recording of it and then listening to it every day.

You and the other posters here have been generous in indulging me in this exercise of considering this "partnership" / BRRRR, but demonstrating that we can invest successfully on our own power before seeking out partners is not only my strong preference but just sound business logic.As a new investor my head starts to spin when I start to think about investing, and the many gaps in my knowledge reveal themselves: how to structure a partnership? 

Once they exercise seller financing, the property is sold and all 1031 rules apply. 1031 has specific timelines.

That clause avoided a lot of headaches when the seller eventually exercised their option.Seattle permitting can really be a curveball.

Real estate is one of the best mind-sharpening exercises in the investment world simply because getting it wrong there is no stock liquidation or quick way out.

You also seem to have based your view of syndications on a sample size of 2 good outliers and based your disdain for direct ownership on a sample size of 2 bad outliers, and when someone brought that up, you basically said that you don't mind losing money as long as you spent no time losing it.The type of person that can lose 50k and be mad "for two days" and thinks that productivity has been lost if he spends a few little hours looking over a deal that could ultimately make more money than many people make in a year is a person that most cannot relate to.

You will not get a large enough sample size to have reliable information.

@David Dachtera, I did the same exercise in a COBOL class ;)

I’m slowly learning how to identify soil types but like you said….we can’t afford to be wrong right now  jurisdictions are different all over the US.. many still just use perk tests  others do the soil samples so you just have to deal with your current area and regulations.