If equity partner agreement, write an operating agreement that explains exactly what each persons responsibilities, contributions, and % profit/loss are.

Just save the $14K, leave your retirement plan alone (unless, of course, you reduce contributions - only contribute up to the point of the ER match, if any - which might free up cashflow) and get started when you have the funds.  

I would like to contribute.  

This would not be a long term solution though; eventually we'd like to be back in a SFH.So now, I put it to all of the creative, experienced people that contribute to this forum...What would you do in our situation?

Greetings,I have been an avid reader of the forums and decided it was time to contribute. 

@Miyako Boyer - Everyone here has good points to contribute.

I look forward to learning and contributing here in BP.

I've followed some of your posts for a while Christopher and have nothing but respect for your contributions.

After you manage a few units, you can decide if you want to bring on a management team, and by then you will have the experience to know what a good management team should offer.Definitely get started and see how you can start contributing now.

Unless there is a goal of contributing more to retirement accounts, or making sure one of you has enough credits into Social Security it is generally a bad idea to take passive income and make it active subject to SE Tax.