Also dont get over your ski tips.. your taking a junior position and as such you should make VERY Big interest like 20% or higher. or part of the profit.. because in essance your person is doing the deal with no skin in the game cash wise.. what happens in a water landing.. and the first goes into foreclosure can you stroke and check and pay the first off. 

Short answer - everyone is doing it wrong and it's all fun and games until someone gets hurt or on fire. 

Would it be better to go with non-friends as you select your power team?  

LARGE den with bay window can be a game room, man cave, study or family room!

I do not need hand holding or anything like that, I just think it is important to have someone who has been in the real estate "game" on your side.

This is going to be the biggest game of "Not it!"

Here are some recommendations for you: Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Kristin,Start having conversations with agents and investors in those select cities and get a feel for the submarkets within.

Are we allowed to select the "best" of the tenants that meet our requirements. 

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.