Also if anyone has any life advice on real estate investment and getting married - that would be enormously beneficial as well!

The person in your definition would likely meet the definition of an accredited investor depending on whether that was single or married income....

I’m 30 years old, just started an 80k/year job in the railway industry, married with no kids.

They may get married and live happily ever after. 

I am new to the Real Estate Investing business, however, I was a real estate agent for 8 years in the Hampton Roads Area of Virginia.I am married with 2 daughters ages 12 & 13.  

V/REric My understanding is you can sell your primary residence tax free (up to $250k profit for single, $500k married) if it was your primary for two of the last five years.

However, if the property was your primary residence for at least 2 out of the last 5 years, you may be eligible to exclude capital gains up to $250,000 for single individuals and up to $500,000 for married couples filing jointly.You stated that you would probably have an initial negative cash flow of $500/Mo.

Under the special allowance if a taxpayer is an active participant in a real estate rental activity, he may be able to deduct up to $25,000 (for married filing jointly) of loss from the activity against active or portfolio income (i.e., wages, interest, dividend, etc.) even if there are no other passive income.

Under the special allowance if a taxpayer is an active participant in a real estate rental activity, he may be able to deduct upto $25,000 (for married filing jointly) of loss from the activity against active or portfolio income (i.e., wages, interest, dividend, etc.) even if there are no other passive income.

Here is the IRS'sdefinition of a QJV (https://www.irs.gov/businesses/small-businesses-self-employed/election-for-married-couples-unincorporated-businesses):A qualified jointventure is a joint venture that conducts a trade or business where (1) the onlymembers of the joint venture are a married couple who file a joint return, (2)both spouses materially participate in the trade or business, and (3) both spouseselect not to be treated as a partnership.