Unfortunately, owning rentals is a learned (ie just doing it) instead of taught skill.Of course, if there's a school actually teaching the sort of things you need to know about buying and running an apartment, I'd love to see the curriculum.It's kinda like sales - I have yet to see a sales (NOT marketing) course in schools - Yet basic sales skills are so important in any profession unless you are not working with people.

I've been doing a lot of research about the whole process, but something nobody talks about is the design choices you go with for the interior and exterior of the home.I'm no interior designer, nor have I ever been in any way artistically skilled, so I'm wondering how other people like me tackle this problem. 

Depending on when this deal last traded, you may see a tax increase when you buy it. 

I would discourage self-management, even if you lived next door to your rental, unless you have that very specific skill set and you're willing to commit to it as a job.  

I've been in the trades for about 15 years and would love to connect and see what you need help with.

My negotiating skills were put to the test on this one.

In the BP podcast Brandon and David will usually say this when it comes to mentoring, they hate when people ask them "can I work for you, ill even do it for free" because now they have another job....finding that person work to do.But on the contrary if you can come with a set of skills or attributes and offer your services.

Getting into business or real estate is no different than any other skill, the same way you learned to drive.

Getting into business or real estate is no different than any other skill, the same way you learned to drive. 

I'd jump at this as Partner 2.Scenario 2:  These two are basically the same skill level so the trade off seems to be risk + Money (Partner 1) for deal execution (Partner 2).