I can't comment just yet because I'm not completely up and running but they have had the best support out of anything I've tried before.

Is the ROI worth it?  

Are you in the county, in the city, or in the mile limit for the city?  

The short answer is Yes.

So he must have already bought the duplex or none of these things could be happening.

And I don't know what the cap rates are in the area for SFRs, but I did a quick Redfin search for a small multi-family home in the area that's turnkey: https://www.redfin.com/VA/Richmond/1622-N-31st-St-23223/home.... 

Growing up, my mother and I were renters, and I vividly recall the gratitude we felt when a landlord took a chance on us, despite my mother's imperfect credit history.

If I were you (and you meet the items listed above), I would definitely still move forward with licensing since you already have the property.

One way to do this is for your partners to refinance the loan in their names, releasing you from the mortgage.

@Jessica Heller- contact  several  lenders on the  same  day - provide them  with the  same criteria -  get  some  quotes and ask the  questions you have  ...compare the date and the feedback received and then make a  decison on  starting the pre approval process