Additionally, not everyone has the cash and/or knowledge when they're just starting out to buy a 32-unit, especially for a newbie like me. 

If you make improvements to a property (garage or another type of remodeling or addition) those items will also be added to your cost basis and affect your capital gain or loss. 

The monthly savings typically outweigh the additional insurance cost.

Additionally, I'm not certain but I believe that every penny of withdrawal taken out of a (non-Roth) 401k/IRA during retirement is taxed at your ordinary rate, which is likely to be higher than tax preferred treatment of real estate.

We started with a total of $50,000 from 3 partners and a promise of an additional $30,000 from one of the partners.

You have to speak in term of sub-markets and macro areas here.I'd be happy to talk, if you want additional information. 

In addition to choosing one with experience with 203k loans I would vet lenders and look at their local reputation.

You can remain 50/50 and the additional money treated as a loan.

I haven't been down there in about 6 months but last time I was down there it was extremely crowded (and incredibly hot in the summer as there is not much shade).Also, if you want to pay, you can go to rexreport.com and the owner of that company compiles all the foreclosures with additional useful information.And if you want tax foreclosures, go to lgbs.com and that is where you will find those properties.Good luck.

Tenant shall not place any additional locks on the Premises, including, but not limited to, exterior and interior doors.