My thought would be to get an excellent deal in the asking price to cushion against this risk enabling me to lower the rent per tenant over the next 10 years to remain competitive.

It's an excellent read with a lot of real life scenarios.  

Brandon Turner has an excellent (and very short) e-book on how he would do it.  

Those investors are looking at excellent rent growth due to the area and appreciation in those cases.If the area is average the rent to sales ratio is typically 1.5 to 2.

I have excellent credit, my partner is rebuilding his since his divorce.

Excellent explaination.I've always thought of it as a Guru/Coach (I consider gurus and coaches as the same thing) as someone who actively their services....them telling you that they will help you.

Again, BP is an excellent starting point.

He has excellent credit, but lender will not finance him unless he intend to reside this house as his primary home.  

There would be cash flow that I could use to upgrade the property and my wife has excellent credit, so the building would be titled in her name.

However, all aspects to REI are interesting to me at this point, and I envision a portfolio with a mix of different properties.Aside from the excellent knowledge base here at BP, I am also looking forward to networking and connecting with everyone.