Ok, now that you have taken your initial step, below are some quick links to get engaged.http://www.biggerpockets.com/starthere Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessREI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.http://www.realestate.com/advice/buying-your-first-investment-property/

Moreover, for educational purposes, the advisor whose clients have their monies tied up in only so many investment vehicles(securities) could further leverage that same money by borrowing against just one of those securities, fund RE deals(not even mine) and let the same initial security investment work a double for him/her.

My initial reaction is that this is not something for a newbie to tackle - you might want to start out with something a little more straight forward.

Is it typical for a general partner to charge investors a one time entrepreneurial fee (sorry, it's an appraiser term) for managing the investment, raising the funds, getting the financing and managing the cap ex up front when the investment is initiated at closing? 

Ok, now that you have taken your initial step, below are some quick links to get engaged.http://www.biggerpockets.com/starthere Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessREI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.http://www.realestate.com/advice/buying-your-first-investment-property/

Knowing and hearing all the horror stories I realize there are alway way more expenses than you ever expect, so therefore we plan to collect $80k for every property, so we would haven about $30-40k left over for safety margin in which we can use for initial remodeling if needed, and any unexpected expenses that may come up.

I used a BP calculator to look at all of the numbers when I was initially looking at the house, but they have changed slightly since I got my offer accepted, got the interest rate, and got the exact insurance amount.My monthly P&I would be $520, Insurance $78/month, Taxes $70/month, HOA $10/month for a total payment of $678.  

Did you forget something in your numbers or not run them initially?

I would recommend structuring the initial equity split based on what you feel comfortable investing in the deal and what your investors are comfortable with.

Included in this purchase proposal, I am interested in purchasing the following: The house, land, and associated property for the address given above All furnishings and appliances associated with the property listing I propose an initial deposit of $10,000 as an act of good faith.