Depending on market, I would plan to invest 100k in a single family home, find a good property manager, realtor, attorney in compelling market and just start. 

It depends on your local laws.

Snow removal is typically dependent on the amount of snow.  

I also know Arizona is fairly investor 'friendly' and has fairly low property taxes.Interested in purchasing small multifamily properties (2-8 units) depending on the property and numbers of course.

Homes prices are still at record highs, some decreases-depending on the city, however, high density apartments are skyrocketing.

It really depends on your market and the owner's needs if sub to is even possible.

It might be worth quite a bit, depending on how much cash flow it is generating.

The process is very involved as you'll have to navigate pre-construction activities that involve architectural plans and approval from the city and then the construction activities (Shovel to soil) take anywhere from 5-9 months depending on how much your building. 

Depending on if you qualify for the special allowance for active RE, you may be able to take up to $25k in losses (unless you are full time in real estate and may be able to use real estate professional status). 

Depending on property titling one partner can get the conventional financing and the other can make a gift or use their assets for the remainder.