Definitely not willing to put money into something like this and potentially worsen our situation.  

When I looked into IRA accounts, I found that it didn't do service to my situation.

Additionally, regarding the legal structure, an LLC seems to be the most suitable option for our situation.

If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.

Agree with most here...the longer it takes to explain a situation or a deal, the less likely I am to want to do it.

Quote from @Kody Smith: without getting too deep into my finances, what my strategy is...1. take loans to buy properties (leverage)2. fix/flip for day to day cash flow income3. use some of the fix/flip income to buy consistent cash flow through:- business acquisition, - commercial properties (MF and store fronts),I have no intention of doing ALL of the management myself, I will hire management as needed (medium term goal)my expected core role is money provider, evaluating the numbers, making decisions, and connecting with investors, wholesalers, lenders, contractors, and property owners.while I am just on step 2 of the journey, I am looking toward step 3 to stabilize, and not worry about if house prices drop mid project or not (or not worry as much) So to be fair this is more about obtaining and growing a real estate business not simply buying rentals for cashflow.

Knowing my situation, if my wife and I were doing something like this, I'd be OK with buying something sooner and cheaper, but my wife would prefer to wait a little longer to save more to buy something nicer.

The Only other deductions that I have right now are $154 for unpaid water bill, and $45 for the minor repairs mentioned (doorbell, blinds, shower).Questions for the group:Does $540 seem excessive for a cleaning charge, given the situation?

I wish you well in your situation, this is never easy.

And because I'm looking for a long term finance situation, I'm not looking for a loan that is going to have a really high interest rate, with hopes of refinancing later.