Keep in mind some properties are economically obsolete … along with functionally obsolete.. be careful.. in this day and age with the internet and this irrational exuberance to be landlords there are not many markets that are totally under the radar that are viable.. 

Still sad about the app search function though :( [pour one out]

That said, you can expect this property to have problems like: no functioning HVAC, electrical problems, old water heaters, low rent, old appliances, worn carpet/torn linoleum, leaks, etc.Sometimes the rents are not able to be raised for that block, or you may not be able to justify raising them enough for a good return after repairs.  

But honestly I always have problems visualizing a drawing in real life.

They are functional.

You need to have a good agreement vetted by an experienced professional.If one partner puts in more money than the other, you could change ownership interests, you could treat it as a loan, you could reduce income/profits from the non-contributing partner until the contributing partner is paid, etc.You will want to discuss with each other who will be doing what management functions and whether that is worth anything to you both. 

I came here to trying to find the search function as well.

The property is an open slate to design the units how you want, the thing is that its not functional or unlivable.

See Search function In one of them, it was mentioned the person in charge is on vacation, on a cruise somewhere.

It seems they check for visual, electrical, moisture, mold and gas.If it really is that simple than soft inspections can be done much cheaper and faster and more often by a trusted but non - certified joint venture partner.While I'm in the area I can do a demographic, a title, and a infrastructure forecast search.