You need health and safety items in and working.

You should know rents, common expenses, vacancy/occupancy rates, etc.   

All owners must hold title as tenants in common under local law.2.

Double closings seem pretty common here.

Specific to commercial real estate in the general sense (non-apartments), your income stream is commonly fixed for a long time, i.e.

Probably the biggest changes will be if the states have different legal structure for spouses, such as tenant in common, etc., and how those are handled when selling a property, as well as the agent responsibility if it is a non-disclosure state vs not.

This is what I have done when I had some people move in due to health issues. 

Our names are all listed on the deed as individuals, tenants-in-common.

The common ground that needs to be present is you need to 100% trust in your partners honesty, integrity, and work ethic.

Of Community Health, DCA)    You can contact me if you would like assistance finding this information for your state.2) They should have commercial liability insurance, but double check with a lawyer to see how/where you could be held liable.