Mike Simmons came up with these requirements after 10-12 years of having partnerships that did not work and ultimately finding one that really does. 4 Requirements when Partnering: Identical Risk Tolerance.If the person you are partnering with doesn't match your risk levels, and what is scary to one of you is the starting point for the other, you are going to have conflict.

I even have a duplex with two identical systems where one quit about 2 years ago and the other works fine (heat pump). 

Again I’m very new to all of this, but for the most part, it seems as if many investors are trying to hide identity, or maybe it’s their way of protecting themselves. 

This has value too and can be used for identity theft.

If two identical properties in two different locations produce the same NOI, but trades at a 6 Cap and the other at a 7 Cap cap, axiomatically the 7 Cap is more risky since the market has demand a higher return for that asset. 

Property management is another hot button here, so you'll get differing opinions on that too, but would suggest that you at least run your numbers with a PM in place just in case you ever want/need to switch to one, the cost is already factored in.One thing I do is hold my properties in land trusts so my identity to the tenant is now known.

This "experiment" has been attempted in multitudes or manners, ages, forms, functions and in every case, ended identically, with mass poverty, pain & suffering of the common person, and rampant corruption.

Each of the four units are identical!

The house next-door that’s almost an identical house is renting for about $100 Less the subject Propery and that is through a property manager.

Next door house is identical and attached to mine. 195-220k, rent estimate is $1449.