I'll be at Ultimate Partnering this weekend. 

I want to develop a mission statement, vision, and plan that I can share wIth future lenders and partners.

Check out the nearby members and network at https://www.biggerpockets.com/meet, it will help you a lot to find partners that can help you out in investing. 

The legacy lease provides internet, which we have provided and which works in the common areas of her unit, and which also works in two remote bedrooms (albeit not at lightning speeds) via a Wi-Fi extender that we provided as a courtesy.My business partner has tested the Wi-Fi in her bedroom three times, and has been able to connect and load webpages.

Is there is a typical LP/GP structure, with an LLC owning the equity in the property, doesn't the property get depreciation deducted on the income statement, and then there's pre-tax income, then that's taxed at the corporate rate, and then after adjusting for capex, net free cash flow is available for distribution to the partners?

Those are common partners of wood paneling in my market.

My business partner wanted to start into the rental game and this is a big first step. maybe too big unless we had help from someone who likes to help people out.

As the general partner/operator, you can make your money through fees and sweat equity. 

However, there continues to be a shortage of available homes for sale, and the homes that are for sale are priced on the extreme high side or are going into escrow in a matter of days, resulting in a need for rental units.A business partner of mine just recently purchased a 3 family in Western Massachusetts, remodeled kitchens bathrooms and re did the wood floors, ( all affordable renovations), and increased his rents by over 19%!!!!

When you form a Partnership the best type keeps you in control and makes all Partners involvement and ownership variable.When you purchase them, at least 32 units will enable you to hire a Property Management Company and do the daily operations.