Take the time to learn the process before getting pulled in and definitely don't get blinded by high flying figures- Excel is easily manipulated.

This is a relationship business - we got into our first MF deal through networking.

If this is a relationship that you want to continue to use in the future and both of you will be the only equity partners in this, then an honest conversation about what each expects appears in order.

Have to start building relationships somewhere.Additionally, I seem to be lacking in knowledge on when I 'need' a contractor/engineer/architect.I.E.

A lot of people have mentioned ROE which is fantastic because that is an excellent way to make your decision.As I am reading more into your strategy, I would start with your long term goals because there is no right or wrong decision.Some people elect to use rent money and aggressively pay down their mortgage.

Do you have advice on how to build solid long-term relationships with a great team remotely as a beginner?

@Craig Sweeney  That's a very open-ended question depending on your circumstances, other assets, relationship with your sister-in-law, budget, type of property, type of tenants, risk tolerance, etc. 

Ideally you want portfolio lending, even though it may not help you on this purchase, the relationship you build will help with future deals.

All that said, Thomas brings up an excellent point that you probably want to wait until the dust settles with your baby before jumping in to investing.

@Jordan Beckett excellent information, thanks I'll write those names down to check.