I often call to confirm, but if I had 6 showings all in a row I'd probably play the odds too and expect at least half of them to show up!  

You can take it up another level and if you end up in a place where you have a modestly sized 2BR you can find a roommate and have them pay half the market rent for the unit and split the utilities and then you could be in the living free/making a small profit area there.

Well, the roomate had already given him his half of the rent to give to me.

I would suggest you either divide your 100k in half or into sections(33k), so now you can purchase two or three properties...remember I'm fairly new.

Here’s a couple more details of the property:Purchase price = $300,000 (I think it would appraise around $280k, although comps are hard in the area because not many multifamily)Downpayment from me = $10,000Remaining mortgage = $150,000 (monthly payments of $1360, $800+/month principle)Seller finance at 0% = $140,000 (balloon payment after 3yrs)Monthly rent = $2800/month ($700/unit) Easy to rent at that price, opportunity to increase to $750-$800, maybe even $850Now – you might jump on this and say that maybe this isn’t a good rental at all based on these numbers since it’s about half of the 2% rule.

Your partner is risking half of a good deal (giving you half) as well as contributing the opportunity and/or work required to close the deal (which could easily be worth as much or more than your monetary contributions).

-in California - first check home prices - within 10 miles of where you work. 

Half of my time is spent working on duties related to my initial employer and the other half of my time is spent working on this other new side of the business through the partner company.

Did we learn anything, yes but alot of half-truths too.Came home and created a Nevada S-Corp and put an LLC under it, assuming we would go national.Property bought was in Calif, so more expense to Foreign File both entities.Started looking into creating my own Property Mgmt (PM) business to control out-of-state holdings.Then I learned:PM requires a broker's license or to be under his control almost everywhereThat stopped National expansionwhich then made the S-Corp and LLC unnecessary (to me; I accepted personal risk)Did get good liability insurance and suggest an extra Umbrella policy if you're going to buy&hold (aka become a landlord).

A contractor can take half your profit.