[Full disclosure - I was the buyer's broker and am the PM for this property...And I'm truly not being defensive or argumentative, simply playing the optimistic devil's advocate (if there is such a thing?]

I just turned down an 8 plex, which was frustrating, but the numbers didn't support it...enough about me already.Before thinking about down payments and ownership percentages, I would consider what role each of you will play with regard to management, repairs, etc.

It's a pure arbitrage play.

@Meagan Maestre Leverage is the power of real estate. $100000 to invest.

@Jinal ParekhThere is no value add play in turnkey.

See if you can get a free or low cost energy audit from your power company.  

Either way, you have two options at play and it sounds like some good equity so congrats! 

I also discovered that even though they have power split and two separate furnaces, they actually aren't on separate meters, so that lowered the cash flow expectations.

Would love to hear how these things come into play and what they can do to your costs when you evaluate properties!

Do you need cashflow now or you looking for this more down the road as properties appreciate and increase in value.If you are not needing cashflow now and it's more an appreciation play of having when you retire then you have one strategy.