Have a picture of your family actually installing a big fancy door.And of course, I assume that you are licensed/bonded/imsured as required by your local laws?

Do have an idea of your preferred acquisition price and how much rehab might be required? 

Above are just hypotheticals, but they bring to light the point, which is, evaluating opportunities requires apples to apples comparisons. 

Given you and your investor both have experience in different areas, I’d say keep a flexible approach and compare city requirements before putting too much money down.

As I see it, the only ways that real estate pays you well in the first 3-5 years is low to no leverage or a strategy that requires more work (short term rental, mid term rental, rent by the room, etc.).  

Germantown has better cash flow potential but may require more hands-on management.

during the 2000s before the crash we got up to about 3 mil a month in lower balance high profit loans and were between 30 to 40 mil out.. we originated all our own loans.. do not trust brokers all my worst deals came from them.. this took about 12 people..

Quote from @Raghavendra Jakkani: The tenant should provide proof of income that doesn't require detective work.

Electric: is the easiest to split, but may require holes cut in walls to separate the units.Gas: gas lines aren't as flexible as wires, but it can usually be done affordably.Water: most cities will NOT install additional water meters on a property.

Because of my savings and lack of expenses, I'm in a very comfortable position to make my first move, but because my income is mid, I'm unable to meet the Debt-to-Income requirements to qualify.