Alternatively we will just continue to slowly DIY the renovations ourselves, but I feel like it is tying up our cash and time!

I haven’t ventured out there myself but should consider it.You mentioned owning one or two properties not changing your life. 

We make a fair amount of money (about $80k after taxes/expenses), but in my opinion not enough to justify potentially being $1,500,000 in debt in the next couple years.So, as we venture into the world of rental properties more and more, can we expect to just be approved for a loan every time as long as the property will cashflow?  

No current properties wanting to learn about rental and becoming a contractor or DIY for my investments.

When I sit down with clients, I always discuss (1) their personal assets, and (2) what their current investments portfolio and other business ventures are before discussing (3) their future goals.

So I think my MIL, a DIY hardliner saw the light of day, FINALLY.I would say paying $2,000/year on "people doing nothing" is well worth it, especially for $1MM.BTW, we had all types of tenants, some young people who are totally clueless, so they wouldn't even know there's a pilot light on the water tank.

It's also exactly how I got into this business, volunteering to fix my girlfriend's beat-up apartment.There are a long list of pros and cons to being a DIY investor, and a long list of different ways that various folks have chosen to involve themselves in this work, with or without their families.

They sent me over a template of their Joint Venture Agreement that they use.

They can form the entities for you at a price, but you will have confidence the entities were formed correctly - some of the DIY LLCs I work with are basically just an added business expense that offers nothing useful because the investor formed it wrong or never learned how to operate an LLC correctly.

It's a short term venture at best, and the most likely outcome is you bought a fancy new-ish car and have a bunch of consumer debt costing you money rather than making you any. the car won't appreciateyou won't get any tax benefits It becomes less lucrative as other EV vehicles come into service It adds a bunch of additional liabilities on your DTI which many hinder you if you decide you want to buy an actual investment.