So yes, it’s important to note but ultimately it is only an indicator of future cash flow.

My ultimate goal is to own something near a beach.

He ultimately wants to maintain & manage our rental (and any future rentals) but will initially have large gaps in his schedule to fill with paying work once we arrive.

In other words, if I get one person's rent but not the other's the rent is still late, and can ultimately lead to an eviction for BOTH parties. 

Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.Check out the BiggerPockets #AskBP Podcast too. 

We did become a little jaded after that but ultimately got around to some critical introspection, owned our mistakes and learned some lessons.I’m in my mid 40s and am focusing most of my attention and energy learning about multifamily residential and small apartment investing.

Am also a newbie working on my real estate goals .Make sure you download and study " the ultimate beginners guide" . 

We lived in one unit and rented out the other, then ultimately moved to the basement and rented out the second unit.

It is your property - you own it and you are the one who is ultimately going to benefit from the proper maintenance. 

Any lawyer will tell you that ultimately if you do something grossly negligent, malicious, etc it doesnt matter if you have an LLC or not - its bad news.