For example, just the big picture, if you take the 2% rule so for a property that cost $250k you need a renter for $5K and those are definitely not what you would get from a renter in the area I'm talking about.

Upon movement, just upload the camera pictures (using something like IFTTT).  

Consider the whole complete picture.

Then two weeks later I get a notification that a retiring landlord Jay Hinrichs wants to give away a free duplex to a young investor in the area, whom can rehab the property, post pictures online for others to learn, rent the property, and donate $50 /mo to charity.

I actually don't have any before pictures because it was a flip house prior to us buying it at auction.

(Also, I just realized that we can attach pictures to comments and I just have to ask why doesn't anyone ever use photos in their posts??

Can upload pictures right as you are taking them.

You can also buy rolled cork quite inexpensively.In living rooms we will also install a picture over the panel (picture can be hinged like the chalkboard to facilitate access).

I am not sure trying to find a comparable CAP rate when a significant part of the building will not be sustainably leased will give you an accurate picture.  

He wants to partner with us - him being the financial partner and us being the managing/landlord partner, owning a rental unit together.This sounds like a good idea except the worry of the potential for family problems that can happen when money comes in the picture which I would hope wouldn't be an issue.