That led me to meeting some guys in Sweden that led to the printing business we own today and the properties I have been able to purchase etc etc, it all compounds if you are truly focused on making it happen.  

Criminal defense cost a BUNDLE 

A college education has its advantages, but it also has its limitations because of the way many degree programs are taught and the way traditional employers treat back-to-school education programs (the more job-related courses you take in your field, the more raises you are supposed to get).When the Cold War ended and President Bush declared a "peace dividend" in the early 1990s, homeless shelters in Silicon Valley reported some of their clientele had advanced degrees (many tech firms are in the aerospace-defense business).

You aren't going to retire from $100k but it can cashflow and compound slowly over time.

Compounding that risk with hard money lending can very quickly lead to losses, and it sounds like you have enough going on that you cannot sustain a loss. 

I tend to agree with Mike's suggestion to start smaller - there will always be enough deals to go around, but you may not want to start with a larger project as any negative situations that may arise would be compounded due to the size of the property and number of units.All that being said, for your first deal, requesting $1MM+ with no prior history of management experience is going to be difficult.

I understand that future capital improvements would be depreciable but if none of the value of the existing infrastructure can be applied towards the basis, it obviously changes my after-tax returns significantly. 2)  If the answer to question 1 is no, can I effectively create a defensible basis by getting a cost segregation done that breaks out the true value of the infrastructure or, would the appraisal suffice since the appraiser would presumably provide a breakout of the infrastructure value?  

This is a compound annual growth rate of 27%.Real estate is about the long view.  

Get a title report to make sure no liens prior to bank, if there are tax liens make sure you send the required notice to IRS, and if at all possible get a full release of all claims or defenses by borrower in exchange for agreement not to pursue a deficiency.  

There is the insolvency defense, though.