Good to see that you are exploring the business at an early age.

However, if you pull out earning you will be taxed and penalized if you do this now (I don't know how old are you but looking at your picture you look much younger than 59.5 y.old :-)You should explore the idea of moving your IRA into self-directed Roth IRA, then you can invest in real estate tax-free.

I love exploring the tax records and finding blue prints, like discovering lost treasure.

I'm going to be in town exploring real estate all day on Saturday, April 11 if anyone wants to join me!

In saying that, you've definitely come to the right place to explore your curiosity about REI and pull the trigger. 

If it was an REIT, the issue with that model is often that you have to dispose about 90% of income in form of dividends to shareholders which effectively might be a costlier source of funds in that you aren't retaining what you make.The route I am trying to explore would require you compensating the investor or investors, whatever rate of interest that you negotiate depending on just how things are structured. 

We are mainly fix and flippers in Memphis, TN but are exploring Birmingham since my wife is from there.  

If you want to explore the triplex, but not wait for the zoning process have your architect work up plans that would allow an easy conversion in the future.

I don't know if organization skills are genetic.

Would love to explore the area more.Thanks again