If you get a good counter and you accept you still have plenty of time and contingencies to get out if something doesn't work out for you.Take an hour and listen to the podcast and I bet you will be ready to move forward.Cheers,Bill

@William Tiffani Smith your best bet is to have a lawyer draft you a letter. 

Can any of experienced fellow REIs kindly teach me what activities I need to do to avoid those risks?

lots of resources here,  one local guy on here i know is active with oil and gas and might be a good resource for you on that end. 

I bet that was an awesome trip!

I bet you can do it.

Next, your best bet on a SFR package is with a local bank as opposed to one of the larger national ones.

Do you have the funds to take down the deal or this a just for fun activity that is for your personal edification with the hope that one day the money will be there? 

I think selling and using the 1031 process to leapfrog into a few solid SFR rentals would be your best bet.

Preferably as many units as possible but with hidden value in making improvements (the unfinished attic in our current house was a goldmine) a.My feeling is auctions are good place to go for this but I don’t know anything about auctions. 3.Rent a property to live in for the first year I can’t subject my fiancé to living in a gut rehab again 4.Use the cash generated from the property and work during that first year to put together a down payment for a house for us. 5.Re finance the rental property and buy more property.These are my other day one questions: 1.I’m an architect, does anyone have any advice for actively leveraging my skills to help me do this real estate investing thing full time/ what career change could help me ease into this while still having a salary?