It causes me a few extra trips a year to reset a breaker, but I have to believe it makes the tenants more prudent about overloading if they know they have to call me to get it reset.Other than resetting the breaker, I can see no other good reason a landlord would allow tenants access to the basement mechanicals. 

Also what would guarantee the partner would get their money out, mechanics lien?

I'm a 50 year old Industrial Mechanic, so I can fix just about anything, and my wife is a Industrial Electrician who has went on to get her engineering degree.

With only 1 or 1.5 bathrooms, there is also less mechanical things to go wrong which gives you a lower cost of operation vs. houses with more bathrooms.

Besides face lifting the units what is the condition of the mechanicals?

If so, is there a mechanism for them to attempt to claw back taxes?  

this is a nearly full gut, floors stay, everything else goes. moving walls, new mechanicals, etc. also I guess I know now to draw up rehab plans before engaging contractors.

I am hungry to learn and can definitely bring a lot to the table to aid you having a vast electrical/mechanical background. 

Did you replace the roof (looks a little old in the pics) or any mechanicals, plumbing, etc.?

I had just installed new windows and they were able to use a thin wedge or screwdriver to break the sash lock mechanism as they are vinyl.