Looking for advice.In my neighborhood a condo going into auction on auction.com.

We are getting the 120k in additional equity is based on 30 day comps in our neighborhood.

The property is listed for $275,000 and is in a decent neighborhood with low to moderate crime.

Went and looked at a great house... total turd in a nice neighborhood... 

They can even give you more detailed information for each neighborhood and how long properties are staying on market for each.

He told me that we can't do that and that it is a partnership.In looking at the IRS definitions it states:PartnershipA partnership is the relationship between two or more persons who join to carry on a trade or business, with each person contributing money, property, labor, or skill and each expecting to share in the profits and losses of the business whether or not a formal partnership agreement is made.The term "partnership" includes a limited partnership, syndicate, group, pool, joint venture, or other unincorporated organization, through or by which any business, financial operation, or venture is carried on, that is not, within the meaning of the regulations under section 7701, a corporation, trust, estate, or sole proprietorship.A joint undertaking merely to share expenses is not a partnership.

Don't buy in the roughest neighborhood in the urban core.

B building I was interested in local neighborhoods and some local advice on investing in the area. 

(age of home, neighborhood, size of home, lot size, quality of finishes, etc.)

I just sold a duplex for less than $150k in a the Fresno High Neighborhood, an A- neighborhood.