That may make a difference...Plus, adding some keywords (for me, I always add Chicago or surrounding suburbs) to your post will help get the right investors on it to give you the right advice.

Our company conducts the entire purchase and closing process via email, as well as overnight any necessary physical documents needing signature.

Make sure it is stated clearly in the lease.

Get some quotes from electricians before making your final decision.

The problem is, many of these cities started out by expanding services to make it easier to afford to live there. 

My goal is to have enough properties to where I can make 150k a year and have more free time. 

6-7k is annual cash flow.If so I would make it a LTR since the STR is not much cash flow and a lot more work.You'll likely be the one doing all the work for your partner.

From a rate perspective, likely is not close to making sense at the moment, would need rates to drop further, however if value has increased and you are looking for cash-out, that motivation (any lower rate as icing on the cake / secondary concern) it could make sense to look into

Make sure you’re on the same page with your partner and that your goals are aligned.

For the project I plan on creating a system to address every aspect, step-by-step, of increasing the value of multifamily properties by making improvements that increase each property's net income.