Looks like a good project all around but you certainly need to present it professionally to get this kind of dough from someone especially if you haven't done this before. 

Thanks.From my outside observation,You are trying to wear too many hats and not putting other professionals in place. 

Securities regulation compliance, transparency, investor vetting, professional competition from well financed competitors to name a few.  

It is funny that we are all IT professionals looking for an out by becoming a REI.  

I recently obtained my PE (Professional Engineering) license and I was wondering if there are any PE's out there who were able to leverage their license for real estate investing.I would love to hear any thoughts on this.

@Jeff Burdick, thanks for responding, I would love to connect, I am really passionate about getting in REI, and I would like to start my first deal Right now, I am not an expert nor professional but I have gathered and learned so much that I feel confident diving in, AND I can learn more and more as I swim in deeper

Even the ones that have the most professional set up can still have issues. 

No major cracking or other warning signs that I could see, there are tenants safely living in the house, and the TISH was pretty clean (although it did mention the sloping floors). 

Do you find that it attracts payment compliance and demonstrate professionalism toward your business?

However you have to be smoking crack along with a million other things to not include places in NY or Cali on that list in my opinion.