Welcome to the BP community—it sounds like you're on an exciting path toward financial independence!

You're on the right path—don't overthink it.

If the prospect puts up a big wall and is dismissive about their record, that is more of a red flag than the record itself, but if they were straight forward and honest with me, I will know I can trust them.

Material Participation in a Real Estate Trade or Business.This is pretty straightforward but you must materially participate in a real property trade or business, such as development, redevelopment, construction, reconstruction, acquisition, conversion, rental, operation, management, leasing, or brokerage.2.

I would set a "glide path" to increase rents every 6 months to get closer to the market).

I have done my due diligence and I have made my own calculations and just looking to confirm that I am on the right path. 

This is a false statement that leads @Neal Coppola down a false path of belief.

You might be able to find a lot of this info online, on YouTube, here, etc and piece it together however as a busy professional I didn't have the time personally to try and fail - nothing wrong about choosing that path however I knew I didn't have time and I was in peace with hiring a coach to help me through my first deal, 8k is affordable in comparison with the 30,40,50k programs out there.

I learned something from these deals, but I am starting to think the path could look different for some investors getting started.Too many new investors try to be too hands-on when they don't have the time.

Does anybody have any advice on this subject, anything I should watch out for, is a lawyer necessary, does everyone have to sign the deed, or is it a straightforward process I can do myself?