The question being, does this still hold true for Arizona?

He has been alongside me on the other deals so I’d like to give him equity/skin in the game and I don’t know how else to do itQuote from @Basit Siddiqi: Getting a property with a partner / friend will not help you from getting hosed on taxes.I wouldn't move forward - You mentioned beng a high income earner so your hourly rate is very high.

Does the same metric hold true for laundromats?

My 2 cents @Bobby Paquette - if it seems to good to be true, it probably is.

Each grouping had a common room (perhaps it was shared by multiple groupings ... this was a detail I missed) with a nurses/aid workers office.Central to the two sides of the complex were common facilities such as a dining hall, gym {perhaps a pool ... another detail I missed}, theatre &  games room.With one of the fastest growing groups in our society being single people, we are examining a related idea of a  complex / building providing a modest-sized 1-bdroom "apartment" with more semi-private and common amenities.When I read the title to your thread, I thought it was a project proposing to mix students and seniors into a single complex ... and came in thinking, this ought to be interesting :-) 

Look, we were for most part playing a game of American Football for a long time.

It’s a game-changer.

So I’m trying to come up with a game plan  Conventional loans do require 25% down on an investment property.

if you buy a long term rental, you may not see true returns for 5 or 10 years (although there are other immediate potential benefits, like passive losses on your taxes). 

That isn't 100% true.