Can Only a PART of paid OPTION Consideration Funds be NON Taxable ?

That is a major consideration. 

Anacostia, while considerably better than it use to be is no where near class B.

That is a great list of considerations for what most investors are looking for.  

I most want to avoid spending considerable time showing units in-person to prospective renters, esp. before we've pre-screened them.

@Sharad Bagri When structuring a partnership for your real estate investment, here are some key considerations:1.

I don't know about Memphis but I also invest in Indianapolis and my property taxes went up 17% this year.Another consideration: Nevada has low property tax rates and is a short flight or long drive away.

So make sure you take all those costs into consideration.  

Some like mine are easy to work with but some are just awful and it's important to take that into consideration! 

They will (should) use different comps and take into consideration things like higher end finishes and remodels/renovations.It never hurts to meet the Appraiser when they arrive and present them with your own Comps and list of things that add value to your property....