Structure it however everyone feels comfortable, I would recommend getting an attorney involved as well.

Just be sure you're comfortable with that assumption. 

So at this point you're educated, you're comfortable analyzing deals, if you're still in the military then start investing.

My long term goal is to invest heavily in RE (Buy & Hold) over the next 5-7 years so I can retire comfortably. 

Sale price will be a little below market value with a Home Style loan (4% down), rehabbing ($80K-$100K) mom's home into a place my family and I can live in (better schools, bigger yard, and other benefits) comfortably with a growing family.We plan to renovate the attic of our current home and make some cosmetic repairs ($60,000 HELOC) that take it from a 3 berooom 1+ half bath to a 6 bedroom 1+half bath with a separate 1 bedroom apartment that has a livingroom and kitchen (apartment is already renovated).We then plan to rent the Air BnB for 2 years and re-finance for equity and leverage to buy more rentals.

As far as a next purchase or a savings, I personally prefer having a certain amount of liquid assets to feel comfortable, but also think that aggressive investing is what gets people ahead fast.

Convince a partner that you are willing to put in a large amount of the funds needs so they feel comfortable. 

The rental income should cover the mortgage which is great but if I found something where it didnt cover it in full but my family was comfortable I would still be open to it.

The money will run out way before you can retire comfortably with cash-flow. 

It sounds cool to house hack but you can keep staying where you are now and rent also the 3rd master bedroom, I assume you pay less than $1500 for a 1 to 3 bedroom now, so by staying where you are now you can cash flow positive and stay in a comfortable non roommates situation.