Mike Simmons came up with these requirements after 10-12 years of having partnerships that did not work and ultimately finding one that really does. 4 Requirements when Partnering: Identical Risk Tolerance.If the person you are partnering with doesn't match your risk levels, and what is scary to one of you is the starting point for the other, you are going to have conflict.

This includes loitering in locations like stairwells, which can be a risk when not heavily trafficked.BIKE STORAGEBicycles are as alluring to thieves as autos and easier to carry, so it’s critical to monitor resident bike lockers and racks to prevent theft.

they determined that a lot of the theft was from the workers that worked for the contractors and new the lock box codes coming back and stealing stuff or telling their cousins etc. 3. pull into gas station and have to lock your car when you leave and head on a swivel  or simply do not buy gas there at all to dangerous. its these type of things the locals are raised with and us OUT of state folks have no clue about especially if we were not raised around that environment we simply dont know what we dont know.. 

I even have a duplex with two identical systems where one quit about 2 years ago and the other works fine (heat pump). 

Again I’m very new to all of this, but for the most part, it seems as if many investors are trying to hide identity, or maybe it’s their way of protecting themselves. 

My fear is theft, using each other’s machine, etc.

This has value too and can be used for identity theft.

If two identical properties in two different locations produce the same NOI, but trades at a 6 Cap and the other at a 7 Cap cap, axiomatically the 7 Cap is more risky since the market has demand a higher return for that asset. 

Property management is another hot button here, so you'll get differing opinions on that too, but would suggest that you at least run your numbers with a PM in place just in case you ever want/need to switch to one, the cost is already factored in.One thing I do is hold my properties in land trusts so my identity to the tenant is now known.

This "experiment" has been attempted in multitudes or manners, ages, forms, functions and in every case, ended identically, with mass poverty, pain & suffering of the common person, and rampant corruption.