@Joe Edwards-Hoff I stand corrected!

I've been communicating with the gentleman for several weeks now, he's emailed me information on what he needs to qualify me for an FHA loan, however, I'm a little nervous because I live in Wisconsin.Has anyone ever worked with an FHA mortgage counselor/originator in another state?

I greatly appreciate any comments/corrections you have on my calculation!

You are correct in that I will be putting the title under my name. 

He had the cash.I know, right now, prices here are going up like crazy, but I think a correction is coming, so waiting a bit won't hurt you.

You are correct it could take years, wealth growth is a life long process.

. ;-) NO comparison, you are correct.

You must keep the ownership percentage the same at all times and all income/expenses must be split according to your ownership percentage.Be sure to seek help of a professional who can guide you and structure this correctly so you can avoid violating prohibited transactions rules:https://www.irs.gov/retirement-plans/plan-particip...

If I remember correctly, the BP member also had a Property Manager (PM) in place.

QuickBooks is useful for keeping track of expenses (something most PM platforms give you as well), but it doesn't allow you to communicate with tenants, handle work orders, or sign leases online.