But it just depends...I am always in favor of controlling assets personally if possible...I don't know the numbers or anything about this deal, but it sounds like you've got a lot to think about on deal structure...if this is even a good deal.Just don't let anyone steal your deal if it's viable....lots of sharks with cash out there. 

Keep things under your control that you are responsible for. 

Make sure your tax person is leveraging every advantage for you in terms of depreciation schedules on furniture, maximizing your involvement as an "active RE investor", etc, etc.Finally, as you build your team of PM, cleaner, handyman, etc. make sure you retain a fair amount of control.

Mostly due to limited income, making just over 20k a yr, little money saved and looking to jump in now as i am young. 

@Patty Puckett, I think what You CPAs were trying to say was either to treat it as 1) ordinary loss - no limitation on deduction. 2) capital loss- limited to 3000 every year.

Others have prohibited or limited rentals.   

I am brand new to REI, so my inexperience is an obvious limitation to going OOS in the near future.  

It's always been a scary thought to me since your buyer pool is so limited and your holding costs are so high!

With the investor loan, you will be limited to 2% in most cases.For a cleaner qualifying situation, don't try to close them at the same time. 

Also, I recently read that there is a limit of 4 mortgages.