Companies typically last only ten years on average.

Typically they will have referrals to local accountants you can interview. 

----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

To ensure you’re not overpaying, compare these quotes to typical rates in the area using resources like HomeAdvisor or Thumbtack, or by reaching out to local contractors for ballpark estimates.

And then also do you typically repay each partner their upfront costs from the profits before then distributing profits?

. - Just be prepared, because a motivated seller typically has a property with issues you need to be sure you can solve.

Whats a typical multiple for such asset?

Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment? 

Typically 75% of rental income can be applied towards your DTI for qualification. 

Typically the first set of tenants I screen are the ones who end up in the unit due to prescreening activities like my application and making sure I meet them.