The parties experience, strengths and availability are critical to ensuring  the partners duties and responsibilities are compatible and capabilities are sufficient to execute on the business.

It depends on your price range.

The sell price per sqft ranges from $1,200 to $400.

Things like having solar panels knock the build costs out of range. 

I would certainly think any market greater than 8000-10000 people would be sufficient to do some BRRRRs in.

@Amy FirminAmy, If you are bringing your kids in to teach them the business, letting them know that trying to cut costs by saving on legal fees is definitely not the best advice.A partnership template may technically cover the needs of the parties at its inception but may not be sufficient to cover the eventualities that can arise in real time.If you do find that template, spending a few bucks to have an experienced eyeballs on it to button it up seems like a good idea.

For crank windows that aren't in a bedroom, and aren't the only egress, would it be sufficient to simply remove the crank so they can't open, since there's no requirement that they do so?

Aside from your local or state laws I would imagine 30 or 60 days notice is sufficient.

If you have a high salary and a secure profession maybe you take the risk on a break even property that is going to appreciate and rents go up (I would not put 40% down to do it) but if you are at the mid to lower range that negative cash flow can push you over the edge.

In that price range you will likely not see a quality NNN property that makes sense but you could possibly invest to own a small slice with 200k in a 10 or 20 million dollar DST.