You are very brave for doing this, but it sounds like a rewarding adventure! 

Stop reading and thinking about rental houses at this stage.  

So a question, haha, and forgive me if this sounds incredibly naive - how about getting a property manager or someone else with boots on the ground to do the underwriting by visiting in person etc.

In addition, you still need to meet the IRS requirements for material participation in each property or elect to group themBased on what you say it sounds like it would be challenging for you and your wife to meet these requirements unless she gets involved in more real estate activities that qualify for REPS hours. ...

As a limited partner, you would be able to participate in the project without being involved in the day-to-day operations, while benefiting from the potential profits upon completion.If this sounds like an opportunity you would be interested in, I would love to discuss further and provide additional details on how we can collaborate.Looking forward to connecting soon.

Hi Kris,It sounds like you’ve got a great property under contract with a solid entry price, and the only challenge is the interest rate of 7.125%.

Sounds like you're likely going to be selling.Good lesson at least. 

I hope you contacted BP directly about your experience with what sounds like a 🫏 agent.  

But, it does not sound like that is one of those situations. 

I’m not familiar with CFREIA yet, but it sounds like a fantastic group.