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.  

Being very organized will help you with your costs, but personally after organizing the job and timelines I try not to go cheap in my experience you just end up paying double in the long run.4) My best advice don't go running into this venture blind.

In my experience, most agents aren't going to be helpful here (some exceptions).You can ballpark these things after getting some data:Rent:  use the sites  you think you're future tenant will use to find you as a landlord (Zillow, Rent.com, a big property manager in your area, Craigslist) and look for similar places in similar neighborhoods. 

Is a 2000sqft house in this neighborhood worth a $500k after rehab?

House is mid 70’s along with the rest of the neighborhood. 2.