You might meet the right person tomorrow, but partnerships are like marriage, and of all the girls I've dated, I only married ONE.

Also when I get married next year and start a family I can pull out a larger amount on that property to put towards the home we would like to buy and live in?

@Matthew AlexanderYou should allocate the expenses over the period that it was considered a rental property.One other thing to consider is that you may want to consider selling the house within the next 3 years(2 years from now) to get the benefit of excluding up-to 250,000(or $500,000 if Married filing jointly) of gain.

I'm meeting with the contractor and the listing agent this weekend (they're married) to discuss the way ahead but I'm not worried.I will be reinvesting with my business partners in Fayetteville again, and would love to bring you in if you're interested!

And once you figure that out you can marry it with your financing scenarios. 

How can you find those 'star' agents to find you MLS deals, without marrying one, or taking the courses yourself? 

He has 4 mortgages and I have 5 mortgages in our own name (we aren't married, yet!).

30 year fixed is a good idea if you plan to stay there forever, but keep in mind if you sell after 2+ years, $250k ($500k if married) of your capital gains would be tax free.  

A few highlights below to frame the situation:I am in my 30s, married, with our 5th child on the way.My learning curve is shorter than most:  I work full time W2 developing for and managing a 1,500+ unit low-income housing portfolio.I have access to capital (initially up to $75k friends and family, up to $40k of my own).  

Currently, I'm a master's student and have around 50K (70K by next year) in student loans (I don't have to start paying on this till I graduate ~2years, but does still gain interest at around 5.4%), just bought my primary residence 114K, have Car debt 18K, and my fiance (we get married in March) has about 55K in debt.50 + 114 + 18 + 55 = 237K all together currently.   257K if you include future incurred student loans.Currently I have about 4K in the bank (I expect to go down to 2K when the wedding is over), and I can realistically save about $500 a month currently with a job paying 50K/year before taxes.Once I really start to think about the amount of debt I've amassed, I start to get discouraged about the financial possibility of investing soon .