This would be structured under a TIC transaction an certain rules apply, such as: Needs to be simultaneous and no debt can be brought to the table, for example. 

I was looking to see any info I could gather about the neighborhood, from the limited amount you can find on the online sites.On another note, is it common to have a property listed on the mls as well as Hubzu, simultaneously?

You'll have to do a simultaneous, or close to it, refinance acne and title transfer from you and the current partner to you and the new partner.

This also allows you to do a number of simultaneous loans/properties, based on the number of credit partners you have. 

My goal is to systematize my operations so that I can easily handle 1-2 projects going simultaneously and closing out within a 45-60 day period throughout the year.

or pursue both avenues simultaneously?

Additionally, you would not be able to get 2 FHA loans simultaneously for the same property.

Basically, it's a sale of my property to him, and then a sale of his property to me, with a simultaneous closing so that no funds actually change hands.  

Think win/win  Then, is to find an attorney or title company that will facilitate a simultaneous closing for you.  

Just my opinion, and I know others will vary, but if I was your age, and I knew I wanted to get into real estate- I would go to real estate school at a local place (community colleges are usually well priced) and simultaneously seek someone accredited as a mentor in investing.