If you can count on appreciation, or at least count on it holding value, then you have a safer investment. 

Other amenities count too.

If the mortgage is still in his name and on his credit report, then its going to be counted in his debt.

Just counting responses.

(I dont count on that).

My assumptions were that on our 1040 somehow I would show that our home is the primary place of business and every trip we made to the unit counted for mileage expense.

I called, left a message, emailed - no responses.They were responsible to oversaw my property but when things happened - you can't count on them.I don't think I would do long distance investment without knowing the city really well.    

He bought FHA about 4 years ago and turned it in twenty units and counting.

Then I would not count on the extra living space in a future sale if the system couldn't support the extra bedroom.

You being licensed, you already have something that may add-value to the partnership.Also, it’s not that your income doesn’t count, however usually lenders want to see a certain amount of time, like 2 years or so, before they consider anything.