Don’t quit your day job.

@Kyle Cross you claim to know a lot about the industry, but your questions are vague and so is the info you've provided.Not sure how managing 8 units doesn't, "require much management"?

We only require a soft credit check as well. 

These are high quality properties that require very little or no deferred maintenance for the Buyers.  

He is 69 and does not want to reinvest (1031 exchange), which leaves me having to make a much larger investment on my own to meet the 1031 requirements which is more than I’m willing to do at this time.

It's 5 years into payments and going strong. ya suing on land lock is not a given right and is not always successful good job selling to neighbor.I also have one.. bought house at foreclosure.. 

Also be cautious for you partner certain activities do require a real estate license.

It depends on the rental income, what you plan on putting down (20-25% is typical, 15% or 25% is required for conventional depending on # of units) For your owner occupied deal, you should be able to use a portion of the rental income to qualify and help offset your DTI a bit. 

Title III of the ADA requires the removal of architectural barriers in existing facilities unless it can be shown that removing the barrier is "not readily achievable."

If you are clearing $100/door with mortgages, each month, and your rent is $1200, one month of vacancy killed your entire cash flow for the year - two months means you better have a job or some extra money sitting around to pay that mortgage.