From 2008 until 2012 I ate a lot of ramen and beans and rice because that was all I could afford. 

It seems to be declining,  measured by median, day on market, etc.The last batch of people who can afford to buy before interest rate hike has already done.

I am becoming very frustrated with my investor as I continually send good flips her way with excel spreadsheets to back up repair estimates (we own a remodeling company so we are pretty good at figuring it out) as well as CMA's that back up my ARV because I am a licensed agent with access to the MLS. 

Good luck with the medical...that whole process is frustrating for sure, but they are better about it nowadays.    

I just turned down an 8 plex, which was frustrating, but the numbers didn't support it...enough about me already.Before thinking about down payments and ownership percentages, I would consider what role each of you will play with regard to management, repairs, etc.

I can afford to long term hold.

The potential seller isn’t looking to sell her house but has another which she received from her father after his death earlier this year and says she cannot afford 2 mortgages.The woman says 40k is owed on the property, ARV is between 140-180k.

Let's pretend here and Say you could do your own Renovations and qualify for a loan and can afford the PITI including PMI.

Problem is anyone who can afford $2k/month in rent can easily afford a $200k house.

In the mean time your tenants get frustrated because of delays in repairs and you have high turn over and holding expenses.