Is there enough profit there to make it make sense? 

Sometimes paying taxes is actually the more profitable path!

Since the goal is to revitalize these areas, property values—both for homes and rental properties—are expected to increase as the neighborhood improves.Community Impact:Of course, the main goal of any investment is to generate a profitable return.

I know a lot of the TK sales organizations glossed over this aspect years ago but everyone of them has a license these days..

I have saved and organized electronically all receipts for expenses as well as improvements on the property. 

I have no doubt he can teach people how to do Burrrs and flips that are very profitable but of such low quality that it puts a stain on the industry.

We leverage Airdna and Airbtics data and I personally recomend looking at every data source humanly possible and plugging in your best estimates for conservative, ok, good, and best as well as your best possible estimates for expenses in order to really get a firm grasp of the potential profit. 

We held it for a little over two years with tenants in place for about 15 months and then sold for a profit.

BiggerPockets (BP) does have some tools and templates that can help keep you organized (like checklists for inspections, title, and earnest money).

Spell out the complete agreement of how expenses, profits (or losses), and other responsibilities are to be split—put everything in writing.Do a background check on the partner to confirm there are no outstanding liens, judgments, or active lawsuits against them.Hope these suggestions help.