Also, find out the health and eye test requirements and make sure that you can qualify.Owning real estate IS a business, even if you have someone else manage it for you.There is a big jump between "starting a business" and "having a big corporation."

We will keep a close eye of the market and hopefully the market doesn't crash in the very near future, which could lock up part of our money for some time. 

The builder appears to be fairly large and reputable to my untrained eye, so I'm suprised that they would have such one sided contract that I can't imagine anyone signing.

I agree that we go into them with eyes wide open and bring in whatever help we need in order to mitigate the risk. 

I know what LP (limited partner) is...but KP might be some new lingo.The one and only benefit in my eyes for the SBA loan is that it will give me a fixed rate over 20 years....all the other banks I've communicated with will not do a fixed rate unless it's through the SBA so it might be a necessary beast I have to deal with.

Looking at a lot of deals per day just to sharpen my eyes and recognize a good deal when I see one.

It's fine to buy a vacation home/future retirement spot and put it to work in the meantime, but be clear-eyed about what you're doing.  

Opens my eyes to the truth in this situation. 

I started using the DealCheck app on these condos and indeed it pops up more than $500 in negative cash flow in all of them, which is eye opening.

Look at it in the eyes of the 80/20 principle:20% of your properties give you 80% of the return20% of your tenants can cause you 80% of your problemsSell the properties that give you the most headaches/issues and least profitability  More info on the 80/20 principle:https://www.strategicinvestmentrealtors.com/blog/andrew-schulhof/apply-8020-rule-real-estate-investing