But in general, your biggest risks are not necessarily what's the maximum rent you can get, but can you find a reliable tenant that will always pay and pay on-time.

I'd focus on deciding what you want to do (flip-high risk, but potentially high return...or large loss; short term rental-more work, but higher return than long term rental; long term rental-less work than the other two, but lower return).Once you've decided which you want to do, then focus on getting the best house to meet your goal. 

Right now there's huge concentration, but as this continues to build out and we see north of the high 30s GW by 10 years from now it'll be almost a requirement to keep some type of locality based risk assessment and to diversify. 

Quote from @V.G Jason: I don't understand borrowing money to borrow money.Especially in this environment, why take that risk?

Can be done 100% remote, nationwide, all but 0 risk. 

Also, explore creative financing options that might balance your partner’s limited credit/cash flow without putting all the risk on you.If you're attorney can't clearly articulate this, maybe it's time to find a new one.

Mortgage rates are based on what lenders consider risk factors such as loan to value, credit, etc. 

"Getting in" is easy; making money, managing the business, with the increased financial risk of commercial properties is a whole different game. 

Anyone can get 4.3% now in a 100% treasury fund (was 5% until recently), virtually risk-free.

It's worth comparing terms between your current lender and others to see who offers the best deal in terms of rates and fees.Purchasing a Property: Whether you purchase through regular listings, an agent, or an auction depends on your risk tolerance and expertise.