I agree with you about contractors and trying to align yourself with one who understand your process.In the meantime I will follow your lead and go spend some time at Home Depot "window shopping" in order to at least familiarize myself with some general prices on flooring, paint, appliances, lighting, fixtures, etc.

Assuming everyone who is living there to be on the agreement, but that leads to the next question.How do you verify income? 

It was off market, but it came as a lead from another property I went to see that was listed on the MLS.

I know I could just start calling banks and will do that if I don't get any good leads here, but thought I might save myself a few phone calls by asking the experts (you) for help.Any recommendations on bankers/lenders for long term financing would be greatly appreciated.

Both would be feasible given the current income stream.Has anyone offered their investors a split of equity and debt? 

Find out about training,  support, E&O, splits/desk fees, duty times, leads, buying your own property,  etc. 

Real estate taxes are typically not personal debts... they are liens against real property that follow the property, not the owner.

We're also in a super saturated market so I don't have leads in good deals.What do you guys think.He's saying either way we'd be partners in the deal, scenario 1 wouldn't be lending --> does this mean both of us would be on the deed etc?

On an owner occupied 4-plex do all lenders calculate the debt/income the same way? 

You can try going to your local REIA and asking around for the title company everyone uses (investor friendly) and give them a call.At AZREIA, we have two competing title agencies (Great American and Chicago) that offer all the leads you can ever want and more, for free.