If the property is financeable then a DSCR loan for the 4plex with a downpayment from the other properties could be a strategy to consider.

If you are not an LLC then it doesn't matter.  

I think if you go in with the mindset of 'I think I'd like to live here, but if not then I'll sell it and buy one in the same market that I really want to live in.'

If you are an owner of the business your income is coming from then your income source is in a way "self dealing" in that you COULD if you choose puff your income to qualify for loans you otherwise would not qualify for.

This partner would get “dividend” in form of rent and then 50% of the value of the property for a min holding period of 10years.

Is this calculation for labor, then you add supplies too?

Many people will spend a couple thousand on tax lien / sub taxes, then the county tears down the house and liens it for 10K+ and the vacant land is worth less than that. 

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

Decide why you are investing, create some goals around that, then plan a strategy to hit those goals and milestones along the way. consider you time, energy and capital you have and each of those lifestyle dimensions.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!