So, Benjamin, if you're American I would give that some thought.Below is a link to a forum thread in which I outlined why, you can read if it'd be helpful. 

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

It will also allow you to focus more of your time and resources in the actual real estate vs. raising capital which usually leads to poor real estate acquisition and operational decisions because raising capital is your full time job leaving an inadequate amount of time for the real estate.OK, chasing 32unit apartments, acquisition priced between 3.2M - 4.8M.  

The IRS automatically classified your LLC as a partnership when you requested the EIN, which requires filing Form 1065 and issuing K-1s to both of you.

Water you could have a plumber do it or do it yourself if you do the sub-meter route.

With that being said, I'd go with @Michael Smythe said as far as which kind you should buy.  

I have already thought about the point you mentioned about some prospective tenants not being fond of the fact that both floors aren't available but until I get back to AZ which could be awhile I need it for storage.  

You can prevent this by requiring them to add you as "additional interest" on their policy.

Don't change jobs or income yet.Once you do and you think you can manage the payments based on your new income, maybe once you get the rooms rented.Then if you want to switch there are plenty of opportunities. 

I'm happy to share insights and see how we can help each other.What market are you focusing on?