Answer: It depends - If you live in a community property state (Texas, California, Washington, Arizona, Wisconsin, Nevada, Louisiana, Idaho and New Mexico), the answer is yes.

Depends on how will be doing all the leg work and putting up the financing. are you experienced or is the new partner bringing the experience. if you are putting financing and leg work then I will go with a higher %. if everything is split evenly then you can go 50/50 on profit. please create operating agreement to avoid issues later down the road.

You have aggressively dropped down your student debt, I say continue the progress and pay it off for you can potentially buy a bigger home (4 fam) owner occupied once you are done.Or if you are comfortable with debt you can make a bigger return investing and that can help you pay down your debt. if you are I will get a owner occupied 2-4 family with a seller concession (depending how competitive your area is) for you won't have a high closing cost.

@Dustin Hood yes at closing I was given credit from the seller, it just depends on what time of the year we closed.

Depends on the contract.

I imagine (depending on the condition of the property) my largest upfront expenses will likely be the down payment and rehab costs.

Ultimately this depends the lender.  

Adrien,Who you need to report a claim to will depend on what happened, who was involved, etc.  

Also depends on the plan, if not BRRRR.

If you go into property management you will only learn property management, if you go work for a contractor you will learn about construction,  if you go work for  a wholesaler you will learn about marketing and sales, if you want to learn about underwriting or lending go work for a bank, etc etc.It really depends on what aspect of real estate you want to focus on.