trust and estate deals and keep good records as to what the major triggers are/were for people. 

There are some keys triggers to take in here.

You just need to spell everything out in advance.The problem I see, is the dollar amount you are talking about will severely limit you in both buying power and length of time to go from deal to next deal.I would suggest that if you are looking to invest, and already contemplating a partnership, instead of going in on a new deal, go in on an existing one.  

I actually pulled the trigger and refi'd back to 30.

That can backfire on you if you don't truly have a partner, your partnership needs to be established prior to contracting.

REI is something I have been interested in for several years, but I have always hesitated to pull the trigger.

My competitive advantage is leveraging our partnership and looking for the properties that other investors don't want to touch. 

I don't usually put much faith in partnerships but if you think you can find a partner I think you could still do this deal with an experienced partner to help guide you through the process safely.

@Ned Carey Maybe you can add some insight on this deal I'm thinking about 'pulling the trigger' on.

Primarily I'm very much interested in gaining quality experience in private lending and/or partnerships in which I can provide funding.