I think that they serve an important role in liability protection and can help t protect you.

I thought it might be helpful for this person (and perhaps some others) to commit to writing a formal personal investment philosophy. 

Don;t ask me how I got that list. 

If I add a partner to the LLC ownership, do you know what is the minimum % of ownership he will need t have so the lenders allow the loan on his name?

I have a countersigned commitment for a personal guaranty from the buyer... 

However, if an investor commits to doing his or her due diligence, the fear of a lack of funds is irrational.If you have a great deal on the table, there is no limit when it comes to ways to fund it.

I can't say "$h#t").

@Michele Velazquez a suggestion if I may, wait until you pick your location before committing to a lender as my experience is that local is important.While we personally work with a lot of out of state investors who allow us to be their boots on the ground and never see the property, but if you can take a trip to one or some of your top picks that can make it more real.Regarding DFW small MF builds are in pockets around the Metroplex.

Lots of work, lots of streess, lots of angry people and margenal results if any.Don;t fret though.

Make sure you have the skills, team, and commitment for doing it as great as makes sense for your property.