While multifamily can be more competitive at times, the advantage of closing on one 16 unit acquisition versus 16 individual acquisitions is certainly an advantage in a competitive environment.

You may be able to pay this individual to leave - which is normal in your state - but what's to stop the next tenant from doing the same thing?

Just because you list it doesn't mean that you have to sell it so there's no harm in trying at any time.

You will have to give the tenants the EPA required lead based paint paperwork anyway because its better that testing the whole house.I use mini-splits for HVAC in old houses--the ductwork will not fit through the crawl spaces and attics with all the room additions, so its much cheaper to put in the mini-splits and the tenants love having the individual room controls.For what you are proposing to do, you might as well just buy a vacant lot. 

Yet the single most important factor for a person who is working to escape poverty is that person's jobshed from their place of residence, and the single most important way of increasing a 30-minute job shed is to give that person access to individualized transportation--i.e., a car. 

I would like to partner with this individual and another financial investor and was wondering what a fair profit share proportion would be for the role of finding properties worth investing in for a flip.

On your note around if you should each buy individually, I always recommend this.

For some, in any industry, we do go into it wanting to make money, for the commission, for the life style etc and as you get out of "survival" mode and start achieving success, you start realizing that you actually make more money when "you do the right thing for people" Doing the right thing (having people's best interest, having their back, giving them options, walking them through the path and educating them on what are the pros and cons to individual investment and advising them) will yield more money in the form of : Referrals, connections, good reputation, a good track record, and yes bc of it, more commissions. 

@Mark Rairdon If you want to keep tax records for the homes, usually bill of sales are receipts when you purchase the homes individually.

Hello - I will be renting out rooms in my home to individuals that are permanent residents of Canada.