You need to look for the transitional areas, for example if there is a bunch of development in Grand Rapids MI, you might want to look in the smaller cites just outside Grand Rapids MI, in order to find good deals. 

EXACTLY  and land use attorneys are very specialized but worth their weight in gold if your in a very difficult complicated land use/highly regulated  City/County. 

I am placing a lot of emotional weight on the idea of owning two adjacent properties: one for my family, one as a rental.

But yes, taxes can get rather high in some Texas cities...It was an ok deal, but barely - taxes weight this down but for someone who could reduce the rehab, it would of been well worth it.

Additionally, if any had recommendations in the Grand Rapids area for a real estate lawyer or accountant that could help me in starting this process.

I have seen they are tightening up due to the economy rapidly changing.

Being close to the shuttle and Vidas might get you some college students if you're trying to rent, particularly if they're in soccer, field hockey or some other sport where the location would work in their favor.For an ARV my biggest weight would go to 316 N 41st St. 

Rapidly increasing area.

Interest rates are rapidly increasing and home prices don’t seem to be coming down any time soon.  

How much money is being put in by eachOwnership percentages (equity and cashflow)Who does what (guest communication, cleanings, upgrade decisions, supplies, etc)If you don't have clearly defined roles the you get I thought (insert name) did that or relationship issues if you think someone isn't pulling their weight.