Location is a feature in QBO similar to class, with one limitation, it is available at header level only, which means you are allowed to assign one location only in each transaction.

I think you can do an irrevocable trust. 

Trust me...when it comes time to sell you will want every dollar of that profit because you will have earned it!

I guess I am just one of those basic lender types.put money out get a mortgage or deed of trust prom note.. lenders title policy and named additionally insured on the hazard insurance.I think your talking about an investment scheme.. :) of some sorts.. 

Does failure destroy your reputation and your credit" - Depends on the level of failure, if you get foreclosed on or have to declare bankruptcy then it is going to ruin your credit.

I think it all comes down to your comfort level on what you'd like to do.

Two entities own a combined 20 properties, one of the entities is a Hawaii LLC and our CPA has proposed $5,500 for this entity that only holds two luxury residential properties (3 rental units),  the CPA has also proposed $2700 for our personal returns.Consulting, as needed, will be billed hourly at $250-$400/hour depending on level of expertise required.This seems very high to me, if anyone has a referral for a good CPA that can handle mostly real estate investments tax returns in multiple states please let me know.Thanks Mike

So glad you've already plugged into the Bigger Pockets podcast - that was a huge source of education for me when I first started.If you haven't already, I would recommend finding a real estate agent that you trust, and also start talking to lenders (banks, mortgage brokers, credit unions, etc.)

Biggest hurdle is the documentation/ forms the lender needs for 203k super easy to do (I’ll even help) but not difficult for people who have high school level clerical skills.

I hear household debt/income ratios are at highest level ever and higher than the US – still no softening.