If they're smaller operations and don't have this readily available, maybe you can get copies of their historical rent rolls and create it yourself. 

When you form a Partnership the best type keeps you in control and makes all Partners involvement and ownership variable.When you purchase them, at least 32 units will enable you to hire a Property Management Company and do the daily operations.

I have focused outside the core city center which I found quite expensive and a better potential for short-term tourist rentals to make the numbers work.

I'd build a reserve fund and once that is met, would payout cashflow each month to partners4) Who handles the day to day operations and support of the tenant?

In spite of that, it's also standard operating procedure for many builders.

HML these days do have buy and hold products @Aaron Klatt  in the 7 to 8% range..Visio is one they are out of TExas   LIma One has some too they are out of Charlotte.but just because its hard money you still have to qualify just like a bank loan .. these are fico driven and equity and ability to operate driven just like any loan.

Just like any business, you can't operate at a loss long term.

So if you want a (potential) high payout somewhere in the future, than core markets such as LA/NY/SF etc will be good markets for you.

I, of course, went out to Memphis and examined their operation before I invested. 

TD Ameritrade and Shwab will open such accounts.We have many clients just operating out of either a bank or brokerage, and some that have both types of accounts within the LLC.