The worst one would be the one with the lowest rent per size, and target that one for immediate notice that rents will be increasing, due to cost of insurance, taxes and on going renovation efforts (etc...) and upon turning that one and re-renting it, target the next lowest, rinse and repeat until you get full turn over. 

I am a 24yo investor from the DFW area and I am looking to buy into my first investment-- my modest target is to own at least one cash-flowing SFH (or affordable duplex) by the end of 2020.

This is especially true as you identify your target niche for investing (flip, wholesale, buy and hold, short term rental, etc). 

The target demographic is the next generation as people in their 40's and 50s already have bought their residences.

That is your target in rental income...

That opens up a can of worms with fair housing laws, but also gives me a chance to make sure everyone gets along and POTENTIALLY convince prospective tenants they wouldn't be comfortable so they chose not to pursue an application.My other way of preventing tensions between renters is to target my advertising.

I'm wondering, after using social media etc to search for potential partners to create a joint venture agreement to purchase and manage rental properties,,,,, when I do find a person(s), the real question is How Have Other Successful JVP's worked in the past when people live thousands of miles apart, and they really don't know each other.

Just get targeted in where you want and specific in your criteria.

Most syndications target and perform much higher than 4-6% returns and do provide you with depreciation.

The target property almost definitely has to be a value add minimally distressed property that can be refinanced after repairs, or just a fix and flip.