Mentally, this will help provide motivation.

im not yet into foreclosure since this process is more delicate, i rather dealing with nice houses, and seller who have motivation to sell because of divorce, or job out of state relocation, 2 mortgage payments and cet.

I think a townhouse in West midtown could be the best bet for you to house hack of sorts.

Have you thought about what sort of strategy you will implement? 

However, I am concerned about getting a good deal on a property without some sort of value add which in my mind would mean a property that needs some sort of fixing. 

May want to consider some sort of compromise where you are able to house hack a house while not over extending yourself.  

@Jahsad Hollman - Lots of stuff happening in the area you are looking at, and lots of motivated investors around. 

The partner provides the down payment, you’ve provided the deal and will need some sort of involvement after purchase (like managing the property).

I can also deduce this is probably a Class C or D Property most likely just from the advertised cap rate.Well, at that price, this is probably not in a "Motive Unclear in Local Slaying" kind of neighborhood.