In my case my wife has a w2 for the basics.

But if you move from a basic, 1000 sq.ft. house to a 5000 mini-mansion, the improvement is much less. 

Any chance I can get some basic feedback on this rental property purchase I am looking at.

And don't want to put in irrevocable trust as we may want to sell  in the future.....The only other option I have found is to put house in partnership (wife and I) LLC's name on the basis of this is our "office" and tool/equipment storage for other rentals in a separate LLC (weak if it ever goes to court?)

Basically, I want to be ready to put an offer on a deal the instant my partner and I deem that it is a good deal. 

Based on my basic research, this area mixed with SFH and rental apartment building, the crime rate shows tier 2 from Trulia (not that bad), and vacancy rate is around 15%.

So basically, I was at an entrepreneurial glass ceiling when joining BP. 

Basically, no matter what software or tools you use to analyze rentals, you want to practice with them until you feel very comfortable on how the process works.Another note, is that what I often see is not so much as mistakes in the calculations (if you use a tool/spreadsheet, the likelihood of this is small), but incorrect "inputs" into the calculators.

In general good candidates will have the following: 5 or more years residential construction experience their own subcontractors already in place, so they must be within about 25 mikes of the assigned zip code their ability to estimate a job is essential so they will have to have direct experience doing so as well as solid knowledge in estimation software they should know excel and other basic computer skills, its definitely preferred but if not we can get them an online courseThank you

My motto is "Keep it basic and tried and true".