It's a great way to build your network and you should have a team down here anyway.

Most of my properties are in Houston where I have a team. 

We are working with a great team of partners on the General Partner (GP) side and we have a wonderful group of investors on the Limited Partner (LP) side.We worked with a great team to help make this deal go forward - from the debt broker, to the attorney, to the title company, to the property manager, to the insurance agent, to the lender, to the commercial real estate broker, and others!

I am super nervous .. we definitely want to make sure we pick the best property and team... 

During this, you build your team while you prep to take on more investments and over time, move them up a class to stabilize over the long-term.Hope that helps, Bryan.

We are a husband and wife team and this is time working together that we enjoy. 

Additionally, if this is your first RE, I would either start smaller, make sure you have an A+ team (and pay them accordingly -- possibly giving them equity), or find a partner.Furthermore, if you are considering properties between $5-$6.7m, banks are going to expect you to have experience. 

Even though one of them would have higher rates; you as a team; have to agree in some shape or form; that the profit/loss on both would be shared. 

Find an agent to join your team before you finalize the purchase agreement.

My Team is hosting Daily Webinars on fixing Credit Scores and get to make some income as well.