Then determine your burn rate, days between call to cash, take down ability and average profit per opportunity. 

I came across following idea from internet about buying defaulted mortgage notes directly from banks.

To gain investor confidence, ensure the investment property numbers are real, use the most common contract forms in your state (versus a 2 or 3-page) internet/guru contract form) with appropriate addenda, or an attorney-drafted form and attorney-drafted assignment agreement.

Whether your statements are true or false, whether we have evidence to support or deny a claim, it will never be something blasted on the internet.

Determine the strengths of your property manager, if they are experienced in working with section 8 department and tenants with vouchers then I recommend choosing section 8 tenants otherwise look for cash paying tenants.

If there is no initial agreed-upon amount, determining a fair compensation becomes more time-consuming, leading to further losses.

Personally, I’d review MLS data, Zillow, and consult with a realtor to determine an accurate ARV.

Quote from @Arvand Sabetian: Does your lease state you're providing internet for the tenants?

People who are really determined to sell their house have undoubtedly posted about it on their social media account.

Since you're selling the business and real estate to a partner/friend you will have some flexibility in value determination.