Sounds like you understand my considerations well. 

If both the mortgage and title are in your and your wife's names, setting up a multi-member LLC with both of you as members might help avoid triggering a property tax reassessment (some counties do that) since it shows continuity in ownership.

Here are some steps and considerations to help you get started:Steps for Purchasing a 5-6 Unit Property1.

Some questions I ask myself before pulling the trigger:1) In 1 year, would I make at least double of what I invested into this- or any- coaching program?

We have a PMI payment of about 300.00 per month.We have put a considerable amount of money into the home to include a completely renovated 2nd floor 2 bedroom unit.

Hey Michael, My understanding is in a preferred equity syndication, utilizing qualified funds such as those from an IRA or 401(k) can trigger Unrelated Business Income Tax (UBIT) when the investment generates Unrelated Debt-Financed Income (UDFI).

Each step requires careful consideration, but with the right team (agent, lender, inspector), it can be a smooth process.

I have not pulled the trigger yet on a second property due to risk averseness, lack of capital and analysis paralysis.

I’m not sure when to decide that I “know enough” to make this kind of investment, or if I should continue educating myself before pulling the trigger on a property. 

If your lender worked hard for you, and you have a relationship with them, be considerate and do not do your refinance until you have hit the 6 month mark.