There is an argument to be made that a land contract or a subject 2 structured strong enough could cross the "risk of loss passing" bar and that the bundle of rights you have in controlling the property is enough to make it equivalent to having a deeded interest in the property.We've done 1031 exchanges for land contracts occasionally. 

Due to the nature of my career (I'm an economist with a tenure track job), I have fairly idle summers.

I will need to use a manager on this one as it is about 45 minutes away and I have a full time job. 

If he doesn't meet the criteria, you can move to evict, or you can give him a chance until he is unable to pay rent.But, if he was doing a good job, why not keep him?

Pittsburgh is very affordable and you can get a deal in the price range you are looking but again do you have the resources and the people in place to get the job done is the question.

Then, after either my husband or I goes part time with our W2 jobs, begin the short term rental conversion. 

Within 2 weeks of me showing up everyday the contractor was suddenly finished and left the job site.

Partnerships are easy to get into, not always so easy to get out of.I occasionally listen to a podcast done by an attorney and accountant named Refresh Your Wealth that has covered partnerships a number of times, most recently this past April in Business Partnerships – Do's & Don'ts so it might be worth a listen.In any case, congratulations on working on your first investment property, and be sure to say hello if you come to the next RIREIG meeting!

We have a rental portfolio with five kids, travel sports, and a 60+ hour a week job. 

This means jobs.