Insurance is really expensive if you're self employed.Where do real estate agents get affordable health insurance.

If you don't, this will turn into a "health issue" shortly, best to nip it in the bud before the drama explodes.  

On top of the 39.6% most States will add their tax and finally many taxpayors are still subjected to the Obama Health Care Tax of 3.8% on top of everything else!

Usually, one partner gets tired of waiting for their portions of the booty, or one partner gets some health issues and needs the money, or a partner realizes he needs his portion of the money to send a brat to college, or whatever reason partners come up with to get out of the deal(s).A partnership is not worth the paper it is written on when it comes to how partners feel and think down the road and the attorney who wrote your partnership will love to work thinks out for a fee higher than what any partner expected to earn. 

Sellers are not going to smile at your offer as the property has to be in good to great health and safety codes, no fixers.

Mold is a fungus; "normal" amounts are not known to cause health issues but the problem is the term "normal." 

I have put all battery operated digital locks on my doors and change the combo with each tenant.

Cannot evict for lease violations other than health and safety.

@Mario Morales you never need permission to enter for health and safety emergencies, and if you have an urgent (but not emergency) issue like this, you simply need to provide the proper notice.

As Bob said Tempe is probably your best bet but there are some good areas in PHX (Encanto village, Coronado district) that have multi families that you can get good tenant (health care works) and are good in areas.Feel free to reach out!