Splits 70/30 very common for experienced operators and I see clubs / newbies going 80/20 or 75/25 to just get some experience going and attract investors in w/higher potential returns for the limited partner. 

It may not apply to every deal but still really good information to know:  FHFA Announces Maximum Conforming Loan Limits for 2018

I have 30+ properties, sales, purchases, multiple entities, different tax years, K-1's to send, k-1's received, W2 income, cap gains, cap losses, etc....To keep things simple I will give an example of the type of thing that has happened on two recent tax returns:1) It was an issue where an appraisal mattered. 

I have seen many cases where it never worked out and the people had to take the huge loss and move on with no recourse.You just have to be extremely careful.

Seller Disclosure form P&S Agreement (contract) Sub To Addendum Seller Disclosure Addendum Sellers Disclosure (Trec) Authorization to release Loan information Homeowners Cancellation Form Notification to Lender of Change of Address of Borrower Limited Power of Attorney Special Durable P of A for Real Estate Transactions Affidavit of Marital Status General Warranty Deed Subject To Existing Mortgage"links suggestions and feedback is appreciated. 

I read somewhere that a person can have 4 mortgages at a time as the max limit, is it true?

I would love some insight from existing investors on what I can do to limit any mistakes I may be prone to making in the next few months. 

This will likely provide an opportunity for you to put less down.IF you are speaking about purchasing in Phx as an investment, you are really limited in the down payment requirement. 

Personally, I would look at converting it to a MF but if you don't want to go to the expense of converting, it seems like your options are limited, correct?

I'm limited because I don't have a big chunk of money and my credit is horrible.