Should I offer one tenant a reduced rate to "manage" the complex?

I think this is less of a concern in Tempe specifically for investors because many of the condo complexes are investor heavy here.

It sounds like the 2 couples have a good working relationship so far but this deal is more complex and therefore more prone to misunderstandings. 

ARV, and size of the complex... are there many other identical (or close in size and floor plan) units for sale?

I want to point this out and have a different opinion from  J.Beard. i managed a large complex with over 120 units average class apartments.

I am looking to rent a place, it seems nice except three thingsthey are ranch style apartments. they have a gate in front of the main entrance, and you're responsible for the door if anything happens to it. for some reason they won't fix it. it actually looks like this but a wooden door in front of the main doorif i take the door down, how concerned should I be about people stealing stuff. if i had a lawn mower or something, they would have to come in the opening and take stuffi saw a report online about some guy that was looking in someones windows at the complex across the street. i dont know how long ago it was. i was looking online again but coudlnt find it. the one im staying at seems fine, how concerned should I be able the ones across from me?

The landlord-tenant laws in Oregon are very complex and strict, and you have to do everything correctly with your notices.

I could have been buying apartment blocks with what I spent on planes but they do not bring me the joy of an aircraft.Just go through any apartment complex parking lot ...

There are a few MF for sale currently including a large complex for 6M.

At that point, it's a little more complex than just splitting things 50/50, but you need to do what makes sense to everyone involved.