I’m newly married and looking to convince my new wife that the money we have been saving for our first home maybe better used to start investing in real estate.

If you are both vested in title to the real property, the owner of the real property, whom ever it may be, would bare the liability of the real property.The best defense against this liability is insurance first and then you could also look at vesting the property into a Limited Liability Corporation or similar as additional layers of liability protection.Another concept here which is being jumped over, if you are married your assets are joint by law through the marriage.

When I sold that house I used that money to get married and to help get me through a few years of college.  

I'm married and make $60k per year.

Sorry I was busy getting married !

o I'm 25 married with 3 kids and just bought a 250000 house so that's my reason for wanting to make more money

My question is around purchasing my primary residence.My fiance and I are getting married in October (woo hoo!)

The major difference is that the 203k...which you can use for cosmetic AND structural repairs...will require you to use a consultant who will be their to review the scope of repairs and the contractor bid you select to make sure that they marry up.

My first rental, where I rented my house after  I got married and moved in with my wife, I cleared almost $300/mo and that was nowhere near the 2% rule.  

Its like being married to multiple people all at once, it might seem good for awhile but when it goes bad its hell.