A formal business built on this seems overkill as you’re essentially paying someone for a service that already has standard model.If you and the parnter have distinct business tasks/abilities (i.e. not what you would hire an agent or contractor for), such as off-market lead generation, that’s a different discussion.

@Jorge Vazquez we stopped doing signs over 10 years ago.We had a separate phone number on our signs, so were able to track traffic & applications from them.We were getting more & BETTER leads from our online ads then the signs - so an easy choice to stop using them (also time & money savings).

You can find duplexes under $180K in C-class neighborhoods, in decent condition, that meet or exceed the 1% rule

Quote from @Khon Kounbandith: The house was in good condition. 

The decisions and actions you make today can lead to incredible long-term benefits, so it's great that you're starting now.A good starting point is connecting with a lender that aligns with your goals.

Summary of expensesNOICap Rate Condition of the building systems  

Is Real Estate Bees a legitimate and good source for leads? 

That leads me to believe that this is a commercial property or larger (more than 10 to 12 units) multifamily.

@John Clark haha in Albany Park there are now million+ new builds and 2 units in average condition sell 5-600s.

Managing property can either be a lot of work or fairly hands-off—it largely depends on the property’s condition and how well you screen potential tenants.As for deciding between the two property types, it really comes down to your long-term goals.