We obviously supplies consumables.

The Orlando market may have a larger supply of homes uniquely suited for rent-by-the-room.

If I buy a property for $120,000 and partner invests $40,000 in materials and supplies, do they then own 25% or 33%?

Basically the more info available the more options you will have mentioned and they will be more precise.Going with the info you have supplied.  

Especially if the home aesthetics and footprint are comparable, there is still good rental supply available.

I have a strong feeling that the prices will keep creeping up, and even more so when the rates drop.As for inventory, there seems to be a steady supply of inventory in CA.

Plumbing permits shall not be required for minor repairs or replacements of plumbing fixtures provided such repairs or replacements do not disrupt the original water supply, the waste or ventilation system.

High Supply and High Demand. 

As for sources, in my area, there are businesses who specialize is refurbished items or surplus supplies. 

I personally like to target tertiary markets 45 min to an hour and a half outside of a major metropolitian area with a large supply of multifamily.