So essentially, if you let the contract expire, you just lose your earnest money deposit?

Essentially, is the 1031 liability assigned to the LLC or each partner?

Can you guys please make specific suggestions on what areas/neighborhoods/school districts/etc should I be targeting in the Indy market? 

Can you guys please make specific suggestions on what areas/neighborhoods/school districts/etc should I be targeting in the FLORIDA market?

You want to be in control of your rental unit (which is essentially a business) and investing in a property with an HOA is a huge risk since you are no longer in control.

We essentially go from single units then jump up to 100 plus unit apartment buildings.

If you look for a duplex or small three plex it may be easier to manage with you living in one of the units while the tenants essentially pay your mortgage.

A hard money loan is essentially private money...your private money or your company's private money.  

I started out with literally no money and essentially in the same position you are in.

Purchase something with Cash below appraised value using his money, pay the interest, and then get a loan pull all the $$ out, pay him back and then have a loan with essentially no money down?