All the best, Steven  If you're going to do a partnership or even a joint venture agreement I would highly suggest using a competent lawyer to draft your business agreement.

My husband is a high income W2 earner, and meeting active criteria would put some of our tax dollars back in our pocket.

The neighborhood has been flourishing, making this incident highly unusual.What initially drew me to the property was the potential for high rent and strong cash flow.

- Highly unlikely you'll be able to get separate water meters installed and submeter system probably too expensive for this few of units. - So, that leaves electric & gas.

A few things that newer investors should note:- it took 13 years to get there, you have to be patient- rents are high at about $1,750, so probably a quality neighborhood- looks like that is after vacancies, probably low turnover?

The overhead to start a company is low, but the cost to scale is high. 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I mean I highly doubt( but sure there will be other who say otherwise just because) you will find a very good investment property listed on MLS or other publically available service.On a side note if I did have aprroximatley 400k equity in two of my homes could I use any of that to invest in another property?

Lots of wrong/bad numbers and high email bounce rate.

I have done this before and now find the risk just to high.