Realistically, Pick 2 out of 3.

They can help you to have realistic expectations on rent rates in the area, especially if you're planning on have a PM manage the property.

Depends on your goals and being realistic with how much you have to put down. 

HVAC: 15 yrs, let's say $10,000 = $55.56/mo reserves.And if things are not brand new, you can shorten the life and increase the reserve amount.But more realistic, turnover costs will cost you.  

If I was in your situation I realistically wouldn't split it 50/50 with you.

I'd be very skeptical and look to get some other numbers to see what's realistic. 

Obvious some stating their cash flow is $100-$200 per door may be close to realistic but any thing beyond that is pure fantasy. 

(and realistically a different fully qualified applicant will be given the lease while the first person tries to obtain additional documents)My lease allows for a small monthly pet fee, a modest non-refundable pet deposit, and verbiage that if they lie about the status of a service animal, that they will be charged an additional large fee for lying.

In our area there are many lots large enough to accommodate a small second unit and if you already have the utility infrastructure in place that makes it more financially realistic. 250 is pretty small.

I can promise that values in my neighborhood didn't increase anything more than trivially during this time period (they probably didn't increase at all), and the second one is a realistic upper bound for what I would expect the value of my neighbor's property to be.You'll notice some big differences (aside from the fact that they used different comps).