In buying this home we hope to gain some knowledge of benchmarks like, how much exactly does it take to repair a bathroom, bedroom, kitchen, roof? 

Right now the MLS is averaging 80-85% of ARV, while most off-market inventory is hovering around 72-78%. 70% is a great benchmark to shoot for but in this market finding plentiful inventory at that margin is an unrealistic expectation.

I am always amused that the sole benchmark of whether a management company is "good" is based upon what percentage of rent that they charge. 

I am not looking for a great cash flow, though about $100-$150 per month has been my benchmark.

Additionally, showing the average capitalization rates in an area could serve as a useful benchmark to compare potential investments against. 

Make sure the partnership agreement is detailed and in writing and ensure both active roles are clear and defined with benchmarks for progress.

. +/- 2% of breakeven relative to some benchmark.

In the NW where I live, a "rough" but accurate rule of thumb for remodel costs are $50/sf for a starting benchmark if you're not removing a bunch of walls and a reconfiguration of the layout, etc.

IRR is the benchmark most investors use to measure success. 

A good benchmark that Frank Rolfe uses is that the cost to rent a 2-bedroom apartment should be the same or greater than the cost of lot rent plus the monthly mortgage payment on a newer large 16x80 mobile home.