(Personal service includes the fields of health, law, engineering, architecture, accounting, actuarial science, performing arts, consulting, or any other trade or business in which capital is not a material income-producing factor.)7.

Have multiple exit strategies so you can protect your downside risk and project what the overall returns would be if you did split the excess cash flow 50/50.Also, be careful with calling it a silent or passive partner because that officially requires a PPM with the SEC.You'd probably tell the partner it's a JV and you're doing the vast majority of the legwork ;) Good luck man!

I am a very motivated man searching to get my foot into the door of real estate.I recently graduated from OU majoring in Health and Exercise Science.

Health problems stoped them from following through with their plans and forced the family to sell.

No, it is not impossible to hit your goals, and now that you posted it here it is officially part of the record.  

I just wanted to say that I am VERY excited my wife and I have officially started our rental property empire!

We responded politely but accurately that it may not be best to stay at our place and take a chance for their health reason.  

To make it real estate specific, I've prepared by speaking to neighbors, city officials, lenders in the area, like-property owners, and have even chilled at the neighborhood bar chatting with "locals".

My wife works as a Physician with lots of hours, stress, and moderate risk (who knows where our health care system is going). 

 :)   I would definitely recommend to set up a corporate structure - it allows you to write off all sorts of things... cars, car insurance, health insurance, life insurance, phones, internet, trips (oops...