And the reason why your "tale of two halves" will play out as you described.Demand:  This has actually been high almost all along, but rent growth hasn't materialized in response due to high levels of new supply. 

I had a vision that myself, my friends, and this contractor would from a team and we would have our parts to play.

A lawyer might be able to answer this better, but most rentals fall under fair housing laws (there are exceptions) and that protects against discrimination based on familial status which means children or someone who is pregnant.

Doubtful this scenario comes into play.

I saw you were based out of Ohio also. 

My question is, If one is to be strictly commission based, Is finding a broker with mortgage industry similar to finding a broker with real estate?

After owning the property for 1 week and putting in a lot of sweat equity, I've concluded that I want to keep the Inherited tenants based on the condition of their living space and the quality of the people, Knowing I want to keep them to save myself the headache of a  turnover and vacancy of a projected move out If I were to suddenly increase rents. 

You can get a "renovation heloc" which will give you a heloc based on the ARV of your property.

Also, setting up an S-Corp could potentially save you on self-employment taxes, but I’d suggest chatting with a CPA to weigh the pros and cons based on your income. 

This is a complicated situation with multiple layers to consider, so here’s my take based on your questions:If you’re looking to move assets from the partnership into individual LP (Limited Partner) names while avoiding capital gains, you’ll need a strategy that complies with tax regulations.