Is there an existing contract in place?

Then you can convert an existing structure or add a new Accessory dwelling unit on the property which can be rented for additional cash.All the choices have their pros and cons.

Kayla,Cesspools will cease to exist by 2050.

It is my understanding that you CAN exchange from sole ownership to a fractional interest, but there are rather stringent regulations (https://jordanramis.com/resources/articles/§1031-e...)4.

Can someone recommend my best avenue for a potential buy out of a partner in a 50-50 partnership. Approximately 20 properties in the portfolio. No current debt. Buyout price would be around 33 to 40% of the portfolio ...

Not only that but you are far less likely to face community protests, hard zoning regulations, and ridiculous fees and taxes that make developing affordable housing in many cities too expensive.  

There are several existing threads that would interest you. 

It will need to go through variance but the unit size is small enough that I would not need stamps on the initial submission.I'm looking to add ~1000 sqft (new unit) onto an existing 2 family. 

A relative found out recently that the lawyer who recorded a lien for them put his law office as the notification address, not their home address.  10 years later when the guy stopped paying, they found out from the records' office that the home foreclosed and they never received notice because it went to the lawyer's office, now non-existent, not their home. 

I have no idea why anyone would even consider doing their own billing when services like this exist.