You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.Good luck and let me know if I can be of assistance.WARNING!

No split-second decisions involving life or death.

Someday when they’re managing, they’ll make far better decisions instead of just barking orders and having no idea what they’re talking about.Fortunately, you don’t have to be a landlord for years the way I did.

Yes you can if you meet the requirements.If you are not a real estate professional, the passive activity losses (PALs) generally are deductible only (1) against income from passive activities, (2) when the entire interest in a passive activity is disposed of in a taxable transaction, or (3) under the $25,000 rental loss privilege for qualified rental activities (subject to the $100,000 AGI phase-out).The general is a rule allowing up to $25,000 of active participation(see below) rental real estate losses as a deduction against nonpassive income.The taxpayer must make management decisions with regard to the property, have at least a 10% ownership share in the property, and the cannot be a limited partner.

So as long as you make an educated decision cool.  

Don't be intimidated since you are new to this, we were all there at one point.I personally believe taking those three steps will put you in place where you have a much better understanding of real estate and can make an informed decision of which area of real estate you would like to go in to. 

That would have to be an independent decision you’d have to make on your own w/knowledge of their personalities.

@Tom Veit While I know building material costs are through the roof right now I have only seen it be a major influence in my investors decision making when debating on whether or not to develop a new build property.

If I don't have that and they want an update if they were accepted I tell them I have other viewings and to be fair to them am giving them a chance and have not made a decision yet. 

@Wesley Mullen,TL:DR- look at some differing viewpoints and make a decision that is best for and your family.Soap box ensues.I’ll give you what appears to be the sole dissenting view-the money in your 401(k) gets taxed as ordinary income when you withdraw it in retirement.