It would really depend on size, location and quality of the house/building.

The holding costs on a house that size can add up quick and spoil your deal.

It is a 6-plex but with the existing building size, I could easily add 2 units, but cutting the size of the larger units. 

House 1 and house 2 are identical in size, bed/bath count/lot size, and area.

Downtown it will be roommates not so much families.... so 2 beds 2 baths with bedrooms and bathrooms the same size with closets between bedrooms is appreciated by my tenants.

This first property is really going to serve as a great REI education and I also will have more experience under my belt as I am working on networking more to build a team.

This would serve to reduce the headache of the bookkeeping by having all transactions consolidated and outside of your personal transactions.

The city is ranked the #1 mid-sized city in the USA for new business start ups.

Hi @David Geiger,Appreciate taking out time and responsing.Here are more details about the deal.Here in India JDA split are most commonly of two types.1 ] 55% - 45% share is either Profit/Margin/spread generated out of venture split in 55% for Developer and 45% for Land owner.Or2] 55% constructed Units are marketed and sold/leased out by Development firm and revenue generated out of it is entirely for Development Firm, they own this share of project.45% constructed Units are marketed and sold/leased out by Land owner and revenue generated out of it is entirely for Land owner, they own this share of project.Then,  At the signing of JDA/JV agreement depending on deal size, some money is transferred as guarantee or token to land owners, which is adjusted to above Share split.In this case, $1,200,000 US Dollars are to be transferred as Guarantee or Token amount to Land Owners firmThis amount is later on adjusted to either Agreed upon number of Units or Profits generated.

Have escrow company instructions serve as your contract.