I know my experiences are very limited in the universe of all passive investment opportunities, so take with a grain of salt. 

Both areas report just a 7% vacancy rate, a sign of their popularity with families and long-term renters.What This Means for Investors and HomeownersLow vacancy rates mean that tenants are competing for limited rental housing, making these areas attractive for investors who want strong rental demand and stable occupancy.

You limit your liabilities by going with separate LLC's.Splitting ownership 50/50 means that when you both can't agree, and there will be times you don't, no decision can be made.

Your reserves are the real limiter here.$5K isn’t much cushion — one furnace, AC, or vacancy can wipe that out fast.

For instance if your credit limit is $1,000 do not have more than a $300 balance.

At the moment, I have a small amount of savings that I’d prefer not to use, though I do own a home with some equity (though limited due to PMI).I’m based in the Greenville/Spartanburg area, where there are many new builds and opportunities.

I was looking in the South and West Philly area, but don't want to limit my search, and could use some help here. 

I used the COVID 401k withdrawal rules to pull money to finance our first property in my husband's hometown south of Fort Worth, TX in 2021.

Have a lender who also educated you through the process and a real estate agent who knows the area you've already done your own research on as well.Know the passive activity rules: Early losses may be limited depending on your overall income and activity level.

I get an email alert each time a deposit is made.I prefer not to use any third-party vendors (Zelle, etc.) because firstly, that creates another link in the chain that can break down between the tenant's deposit and my bank account (or, create capricious limitations and hurdles like the one you are experiencing).