Furthermore, I know the market very well and have seen consistent growth over the years. 

From there, I think you will have a pretty good idea of the percentage of work you and him will be doing on a consistent basis and it will make the discussion on how to split the deal a lot easier, and will reduce the chances of disagreement.Hope this helps, good luck!

I also live in southern ca and invest in memphis and consistently have been advised to look for single family rentals in b plus neighborhoods. just my two cents..

You have consistently engaged in personal/ad homenim attacks. 

I may be able to max out occupancy with consistent corp rentals. 

This would be at a 4.5% rate back to myself.I only have 20% equity in my home, so I don't believe that would be a viable option just yet.StrategyBRRRR-My concern is if I would have enough capital to support the rehab portion of a purchase.Single Family homeMarketsThinking the 100k range in cities that are situated around small town colleges, or other potential sources of consistent renters. 

I would rather put my money into other investments (stocks, peer-to-peer lending, etc) that consistently return 8+% and look into other alternate methods of gaining experience. 

The seller responded that we should increase this that is typical for a single family.The house consists of 4 single bedroom apartments that are each 4 rooms.

This business is simple and only requires 2 perquisites: heart and consistency.

I agree with other posts above - it's best to have a repeatable, consistent process in place for your tenants and set expectations regarding late rent payments at the time your tenants move in.We use Propertyware software to send rent due reminders automatically two days before rent is due, a late reminder the day rent is due (and not received) and serve pay or quit notices the day after rent is due.