It might be worthwhile to check out the the two books by Bigger Pockets.

Partnerships are definitely something I see has a positive this when the roi is worth while.

Also, at the end of each podcast the guest talks about a favorite real estate an business book, which is a great way to find worthwhile books to read.  

Is there anything creative one can do to make something like this a good deal or worthwhile?

Careful shopping might do a little better, if the issue is taxes maybe a better rate makes it worth while to make the switch.Instead of staring a nuclear war with this gentlemen, find a way to solve his problem.

If it will be a better fit for you, and this is holding you back then it might be worthwhile switching asap. 

I'm thinking a rental properties would be a great first step, and I've convinced my wife that this is a worth while endeavor to really look into.

The deal would have to have seriously substantial profit to make it worthwhile.

At the moment I get the feeling you just see that maybe some kind of opportunity is available but your really not up to date on what can be done with the property and at what cost, and have a real plan in detail for the property, and if there is a real and worthwhile profit to be made at this time.

Okay, there is this property that I think is a worthwhile investment but I cannot take it on myself.