Also, would you agree based on your observation that a lot of tenant led litigation are brought on by contingency fee attorneys?

Your numbers seem high for the price of the home as your costs are about where my last purchase was (going from memory) but my last purchase was $442K.The rest of your observations seem to be accurate for San Diego. 

Now I will finally have my questions answered too as opposed to just observing others' discussions.

Sigh.I'm glad I'm not the only one willing to admit to having observed this.These people and their children are trapped in the system.   

I have observed that if there is more than one owner in the deal, it is purchased in an LP.  

They will probably sue you and try to pierce the corporate veil, which requires them to prove that you didn't really operate the LLC as a separate entity, so to avoid that, you must keep really good books and observe all corporate formalities.  

But our long history and trust means that I can treat his observations and decisions as an extension of mine.

I found out about bigger pockets at the beginning of this summer and have been a silent observer ever since.

Very true observation.

Perhaps write down a decision analysis of all the great observations you have so you can see everything on paper and spend a lot of time weighing through it all.