Different market than the south sound both consumer and investor.

We have learned a lot and will be a better consumer later when we decide to engage a property management company. 

You can get tons of high-end furniture from a property that is going through their Cap Improve cycle at literally fractions of the cost that you would be looking at for typical consumer grade stuff.

Very new in the real estate investing world, trying to consume as much knowledge as possible before taking the plunge.  

In my opinion, the 80% partner who is not doing any labor and taking half of your profit is the one coming out ahead.Hard Money is much cheaper (it rarely consumes half of your profits). 

I don’t have much real estate experience, but I have been consuming a ton on BP/podcasts and through books for the past year.

I know of DR well, and don't have any consumer debt either.  

To reduce the risk on the seller side, you will need to make sure you are complying with all the consumer protection laws and laws governing sale of residential properties. 

David,The economics won't change, some of the cost will be borne by the consumers while some will likely result in slightly reduced rates--the deadweight loss will be marginal (lost demand).

If I were you, I'd consume as many podcasts as possible.