Longterm I believe this will work out, but also can't provide a full picture after only holding for one year.  

I pay for internet for the whole building but I'll split the charge between units and charge each tenant double my cost. 

Whatever prices are offered by your chosen CPA, expect them to double with a partnership.

I feel like I’m missing the bigger picture of what makes a property a great investment opportunity.If anyone could share some pointers or insights on how to identify a “good deal,” I’d really appreciate it!

Have a way to double checking their information they give you on the application.  

Here's why:This is a picture of a Schedule E.

Today it has doubled in value with only about $75,000 in repair money.

Take some pictures of the house and the condition it is in.

If you have extra cash at the end of the month, then do double up payments on the mortgages so the principle is reduced and this will increase your heloc room.

Like Devin said, double digit rates and you could still have fees similar to a first position mortgage.