We jump between 3-5 as pricing fluctuates.4 - Commercial Grade furniture - Wayfair (and many more) offer commercial grade options. 

What if prices go down over the next 4-5 years.

I'd say find a different broker / lender that knows the right product to get you into at way better pricing. 

Having reviewed what's previously been discussed on this forum regarding whether people list what their actual cleaning cost is vs. a reduced (or in some cases inflated) price, can anyone share if there is a tax liability with this I'm unaware of?

But here in CA, at leas the ones we've seen, come at a hefty price tag/ don't cash flow. 

Better yet, have an attorney draw it up since he will know what questions to ask you two. commissions are earned and should never be put back into the project your partner will owe personal income tax on it.. if you want to get a credit for it.. you have the seller lower the price by the commission that is how you handle that.. if its to late then its his money and he should pay tax on it and keep the rest.

The average consumer is some what aware of these layoff trends, inflation, higher interest rates, and higher home prices.

@Noel Dixon The most overlooked thing I see when people talk about assumable mortgages is that, if you can get approved by the lender holding the mortgage, you will need to bring the difference between the loan and purchase price in cash.

These properties have been owned for many years so approx. 90% of the sales price is capital gains  - let's say four properties worth approx $1M each today.  

If you find a good manager, you can still make as much money (or more) because they will attract better tenants at higher prices, reduce turnover, maintain the property better, reduce losses from amateurish mistakes, etc.3.