So, would it be better to form a sort of 'personal' LLC that I am the sole owner of and keep my partners on the outside of that?

Yes house hacking is the best cash on cash return hands down, but taking X amount of years to save up for the down payment seems like a real motivation killer in my opinion.

I AM asking for help from some individual in looking through the specifics of this deal, or someone who can point me toward a calculator of some sort that combines the househacking/STR combo that I am considering with this deal.*** I have been browsing these forums and binge-watching YouTube and BP Podcasts for the last ~4-6 weeks and my wife and I are both on board to try our hand at real estate investing.I believe I have found a deal that works for us, but would love the opportunity to talk through it with someone who knows what they are talking about before pulling the trigger, because it seems like it is a bit outside nearly all of the examples I have seen other people describe as their first deals.The property has a house on two and a half acres that also comes with three rental cabins (they are currently being used as short term rental units).

Our biggest motivation is to be able to spend more time with our kids and to stop spending so much time commuting every day. 

I'm 45 and late to the game but I am biased toward action, very self-disciplined, and highly motivated to build a better future.

Listen/watch/ read motivational content every day for 10-20 min first thing in the morning, This is like a good workout for the mind.

So, would it be better to form a sort of 'personal' LLC that I am the sole owner of and keep my partners on the outside of that?

That gives her 6-10 weeks to get her finances sorted. 

Most people think local lender is important on how the lender can serve THEM better as a buyer, understands the local comunity and their motivation to invest - the latter is only an issue when you use a portfolio loan, no issue with a conventionl, that's all gov underwriting guidelines.Thinak about thr seller's perspective. 

@Steve PuglisiIt sounds like you are wanting to target distressed situations to locate off-market properties with potentially motivated sellers.