If you purchase via an IRA (as opposed to a 401k), you will need to open an IRA account at a specialty trust company which allows for investments in real estate.

There is probably also investor meet up events in your area with like minded people.  

Or you can directly meet them by registering to real estate events around you: https://www.biggerpockets.com/forums/521-events-and-happenings 6.

Or you can directly meet them by registering to real estate events around you: https://www.biggerpockets.com/forums/521-events-and-happenings 6.

It isn't a taxable event for you until "if and when" he exercises the Option.

We’re keeping the variable rate for now (as opposed to the fixed rate) since the fed is keeping interest rates low.We’ll then buy another property by the end of the year, either another sfh or small multi family.

I've found a number of companies in other states typically offer 2 months of management fees for a new management contract, and an agreement that they will refer the client back to the agent/broker that referred them in the event the client is looking to buy or sell investments. 

I’m curious what the numbers would be if you were generating $1750 income opposed to $3500...assuming $3500 is total gross income.

I would look into this route as opposed to something new with HOA fees where it will be most likely impossible to cash flow and you will have little to no equity to start.

In the event that you don't use it for college studies you can also apply it to other learning course or simply withdraw it and pay taxes on the gains.