NOI/variance, weekly leasing updates)- Tenant screening process (what software do you use to vet tenants and set them up once they are approved, how do you keep track of marketing/, do you handle lease preparation, how do you handle tenants that pay rent late (or not at all), etc.)

I am going through a similar process now,

That is a huge cut from your $160k budget which could impact the ARV.  

I am asking  because I want to know if it is a good idea since I am brand new to the whole process.  

The idea is to create cashlow and wealth through equity and appreciation so the plan we can build few units , sell them and split profit 50/50, while I am the boots on the ground overseeing the process of building from start to finish, meanwhile the partner brings 100% of funding. 

I am in the process of exploring property management companies in Dutchess County, New York, and I’m reaching out to this knowledgeable community for recommendations.

One lesson learned is that the closing and purchase process could have been more efficient.

The hardest part about section 8 is getting the process down, like what to do and when.

I have a goal of finding some like-minded people in my area with which I can connect and start to learn about this process in more detail.

Though the down payment and closing costs will not be huge, they will eat up a sizable portion of our savings.