Looking for some feedback/suggestions as we are terrified of making a huge financial mistake.

I am a financial independence "enthusiast" if you will and always interested in adding more semi-"passive" incomes streams to supplement my current investment portfolio (mainly index funds at the moment).

The place was left a disaster and I had to haul 6 truckloads of trash out of the home and yard, including where she burned dog poop instead of throwing it away. 

Yes you'll use leverage to make up the debt difference but this time your back is covered with the bed rock of the cash properties.the quicker you can get your husband comfortable with your financial position the quicker he'll be out there hustling flips with you full time.  

I never thought about making real estate the vehicle for my financial freedom until now.P.S. 

The question"  How do I legally/ financially structure this ?  

Also, They can fall to zero if your location is impacted by natural disaster or if hard crime takes over the neighborhood.

If a tenant 'disappears', it's usually because of financial issues and that they have already been served disconnect notices by the utility company and once power and heat get turned off, they figure that the game is over and move out, leaving a mess and broken pipes behind (especially in the freezing winter temps).  

I am interested in getting started in real estate, but I am having second thoughts because of my current financial situation.

The equity along with my $100k in personal cash provide means to get stared on my path to financial freedom.