Once I started to see the benefits of real estate investing, I realized I could use it to accelerate my retirement and not wait until I was 65.

This way (depending on the deal) they could take advantage of larger returns, appreciation and potential tax benefits.

You need to invest significant capital into improvements to get the tax deferred benefits, but you'll have to see what the building is zoned for, in order to give yourself more options.You could create a shared work-space, if managed well, can generate a lot of revenue.Again see what the zoning allows for, but you could lease to a cafe or the like.

Also, there is no benefit to you to do the walk through with them present.

@John GachI agree with others, you can likely benefit from a Solo 401k plan.

Even if they don't meet their estimated 13,000 direct hire jobs @ $56000 a year plus benefits, plus 7,000 supplier jobs, half that many jobs in Racine will make a huge improvement in the local economy.     

@Richard SnyderThe first thing is to determine whether claiming the real estate professional designation will benefit you.If your rental tax losses are below $25,000 and you make less than $100,000, you may not benefit as you would be eligible to take the same losses regardless of the designation.If you do benefit from being a real estate professional, you have to note that there are a lot of rules/record keeping required to actually get the benefit.

The cashflow made the deal work but all the benefits of Real Estate Control got me excited: cash flow, tax benefits, leverage, forced appreciation, and overall history of Real Estate Success!

If you can cash-flow $200-$350/month, with 20% down, that is a solid long-term investment.Also, the turnkey option is the best way to go if you would like the benefits of owning rental property without being completely hands on.

Lacking any one of those can cause you to invest in a shaky project or lose your investment (foreclosure is an incredibly expensive and drawn-out process).Another cash flow option is to indirectly invest in real estate via a Private Real Estate Fund.Investing in a private loan fund:Pros: You gain a real estate asset managed by professionals and avoid the risks and illiquidity inherent in the direct investment.Con: Your investment funds can be committed for a longer period of time.