That is a function of median home price, median income and interest rate.

Initially, when I started investing in RE everyone I approached with an intent to form a partnership with to spread/share risk and learn with was a bit timid.I shared how I like to buy properties under market rent with deferred maintenance because I am able to do relatively light rehabs and raise rents to top market rent value. 

Please use the search function to look for your answer that has already been discussed multiple times this year.

It has slightly different functionality than the desktop version but has other advantages (like being accessible in the cloud and integrating with other platforms).

I'm excited to get started, but I've heard and read over and over that we should get a formal partnership agreement in place before purchasing the house.

How many people in the group are doing deals and getting into General Partnerships?

I would start to think of things in terms of partnerships though.

I would like to continue to grow that partnership and look for more building opportunities, while learning about it will help me to be able to better help others who would like to get into the construction industry. 

You could add shelves with/or a breakfast bar along the empty wall to give it completeness and more functional space and modern look and maybe add lights over the L that makes the room barrier.Since you have water running to that laundry room see if you can put a quarter bath in there along with the washer/dryer.

With plenty (90 days or more with an initial "head's up") of notice, I first "non-renewed", then moved out the undesirables, then made sure the vacant units were clean and functional, not doing any upgrades.