We would have to clean the machines (unbelievably gross job) every single night.

I would make one of the partners the managing partner and avoid paying out a chunk of your gross profits to a PM.

- How to calculate gross monthly income?

Gross rents on one is $2300 and the other is $2275.

It would be appraised as a single family with an ADU (Additional Dwelling Unit) and the ADU size and room count would not be added to the gross living area or room count of the main improvement on the appraisal. 

Also understand and calculate Gross Rent Multiplier, Price per door, debt service coverage ratio, breakeven occupancy, to name a few.Also if your partner knows a reliable, repeatable way to make 8% in 2 days in the market, then yeah, why would you not just do that?

Its a gross abuse of powers and over stepping on the governments side.   

For flipping, we typically need $250k gross margin between acquisition price and ARV to make $50k in profit on a cash flip in the city.

The mortgage can't be that high alone if your collecting gross rents of 1,250. 

You must be able to respond when issues happen and be willing to go through the learning curve of self management but you can jack up your gross revenue and profit (in exchange for more effort of course) if that fits with your priorities/goals.