Is there a difference among the different classes of real estate i.e. multifamily vs. single family? 

It's not that common among the entire investor population as most investors will keep leveraging the equity to buy the next property, not fully paying off the debt, therefor contractually obligated to carry the insurance to secure the loan.From a Property perspective, you largest risk would be a large Wind or Fire event. 

You need to make sure yours stands out among the best in order to be successful.I'd say the biggest value-add features include full-size stainless appliances in the kitchen, a coffee bar, and new flooring throughout to brighten the space and give it a new, clean feel. 

However this growth has not been distributed equally among the entire city. 

So here is my question - if I am providing all the downpayment, and he does all the remodel work, how should the profit be split among the two of us in the end...Thank you for your inputs....

Selling some of the units actually helped improve the park - a little pride among the homeowners.

I understand this is also a perfectly legal and above board way of reducing tax liability through effective tax rates from roughly 28% to roughly 15%, and a common practice among the wealthy.   

I mean sue we don’t have income tax, and the property tax is among the lowest in the country, and we don’t have snow or earthquakes.

One notable company is Intel in Chandler who just finished a new fabrication production facility, a $7 Billion investment said to be the most advanced in the world, adding 3,000+ high-tech, high-wage jobs.Many schools in the vicinity are regularly ranked among the top in the state, there are numerous opportunities for great shopping, restaurants, coffee shops, entertainment, parks, etc.The rent/price ratios and cash flow/appreciation one can achieve especially in Gilbert (next door to Chandler) are excellent and I've helped clients purchase roughly 25 homes in the last couple years that fit the same model - relatively new (built in the last 10ish years - newer roof, newer HVAC, etc), reasonable HOA's (around $100 or less - which includes access to a community pool for tenants, front yard landscaping, playground/parks, etc), easy access to freeways, good schools, etc.

@Nick Mulligan  Those towns, along with Brockton are among the most affordable in eastern Mass.