There are certain things that can’t be discussed that are covered by the Equal/Fair Housing Act, such as gender, sexual orientation, race, religion, etc.

So I've told them I'll bring them deals, they bring the money, we'll split the deal equally, and they can be as active or inactive in the process as they want.

So I've been doing my due diligence on Real Estate Investing (Exit Strategies/ Tax Codes/ Running Comps/ etc) All the while I've also been running facebook ads for leads that have been equally fruitful. 

Please note that per the multiple loan rules, the amount of the loan must be reduced by the highest outstanding balance of any other 401k participant loan over the prior 12 months (regardless of whether such other loan is currently outstanding).Monthly or Quarterly Payments: The loan must be paid back in equal monthly or quarterly payments of principal and interest.Interest Rate: The interest rate is equal to prime plus 1% (or CD rate plus 2%) and is a fixed rate that is set at the time that the loan is taken.Term of the Loan: Five-year term unless the proceeds of the loan are used to purchase a primary residence in which case the term of the loan may be up to 30 years.First Payment:For monthly payments, the first payment that would otherwise be due is delayed until January 2021 (e.g. if the first monthly payment would have been due on May 15, 2020, it will be due on January 15, 2021).For quarterly payments, the first payment that would otherwise be due is delayed until the first quarter of 2021 (e.g. if the first quarterly payment would have been due on May 15, 2020, it will be due on February 15, 2021).EXISTING LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.If you meet the above conditions:You may delay making any 401k loan payments due between 3/27/2020 and 12/31/2020.You must commence making loan payments in January 2021 (or the first quarter of 2021 if your loan payments are due on a quarterly basis).If you elect to delay making such loan payments, the term of your loan will be appropriately extended.

So I've been doing my due diligence on Real Estate Investing (Exit Strategies/ Tax Codes/ Running Comps/ etc) All the while I've also been running facebook ads for leads that have been equally fruitful.

Bellflower has a lot of red and long arrows, and it's just above mostly-green Lakewood, so I'd look further into Bellflower, too.All other things being equal, where would you want to live?

So as long as the amount allocated to the two investment units is at least equal to the amount of the net sale of your old property you can absolutely 1031 into that triplex and live in one unit and rent the other two.When you sell down the road if you've lived in the property for at least 2 out of the 5 years prior to sale you will be eligible to take the gain from the primary residence allocation tax free up to the limits 250K single/500K married. 

Where do I start to make sure everything we agree upon is put on paper and how we can both equally benefit from an investment property? 

If all things are equal, I would expect the 3 bed to be better. 

They're not all created equally and many don't specialize in this area of the law and are unfamiliar with legislative changes and new case law.