We should have enough cash reserve if we end up buying a real property.

I can confirm that this is working for me now as well.

Assuming you have adequate cash reserves, good credit etc.

Charlotte is definitely booming and has seen A LOT of growth but to assume appreciation will continue the way it has is speculative and if you don’t have a property that cash flows you can run into a lot of problems if you don’t account for vacancy or have adequate reserves in place if maintenance/repairs come up (which they will).

Keep in mind, since you're dealing with passive investors, all of the above must be confirmed with a securities attorney. 

Attorney has sent them the common roommate lease which they are not signing, still pushing w the rooming/boarding house theme (they all confirmed over text before moving in they understand the room rental situation and ok with it). 

@Spencer William Quesenberry  With little cash reserves to get started you need to be looking at creative strategies that allow you to wheel and deal with little risk and minimal out-of-pocket cash. 

Plan, Plan and Plan some more.By the time you are ready you should have alot of liquid capital (down payment and reserves), and 800 or higher credit score and a solid plan of attack.Will this take time?

Ex: if you expect a furnace to last 15 years with an 1500$ replacement cost, and yours is 10 years old when you buy the property, then you should have a total of $1500 reserved in the next 5 years.

For example, If I needed 50k in piti reserves, would the ability to take a 50k loan from my TSP suffice or would I need that money to actually be in a checking/saving account?