I also like that the person knows I’m not going to be there alone...safety reasons.

To answer your question, if it were me I would only bring in a partner as a financial stepping stone for me to get ahead OR as a safety net because I am seeing myself as not being able to manage the property.  

I think the bigger players in this space are looking for capital preservation over growth, and can afford the lower cap rates in exchange for safety.

Eventually you might want to regain the lost space and completely remove them but the safety question is resolve if they are sealed. 

The entire business model is centered around a motivated seller .

For example a new Chevy might be slightly cheaper and less reliable than a similar Toyota, but both meet all the minimum federal safety standards and whatnot, so I as the consumer am somewhat protected from that dial being jacked too far in either direction - there's virtually no chance that I can find a new car from a legit dealership that is priced so cheaply that is likely to explode on me the second I drive it off the lot. 

If it truly was an issue for safety, etc. then she should have informed you and you then taken care of it.  

As per a TED video I watched last night, it's all about telling the story of a family's transformationand NOT talking about all our ideas, programs, mission, problem, etc.But in a startup, we don't have any stories yet, so I'm thinking 2-3 years of shoestring mode...

I'm trying to grade the community and possible tenants, location, safety and appreciation.

Do you plan on moding the NPL's internally and selling off ones that don't fit your parameters?