My dad is from Gary, grew up a block from the Jacksons. 

There is a house on "my" block I'd like to own as a buffer...

They put up a lot of road blocks to keep you from talking to anyone with any sense or authority, though. 

I found a sweet heart property for sale. 4 plex a few blocks from my house, across the street from the local college.

Baltimore City can be block by block as far as where to invest.

We are both eager to jump in but are running into road blocks on how to structure this small partnership. 

I think the other thing is that you might have a chicken and an egg scenario here.You probably won't find anybody wanting to buy an entire block or two and fix it all up.

I only say that because I have lived in Memphis all my life and even before I got into Real Estate investing, I knew that one street in Memphis can be good, but then travel a few blocks and the area turns quickly.

Property: Brick / Block 1570 sqrft 3/2 with additional office built in 1956 on 1 acre lot (most lots in area .5 acre or less)ARV : $185,000 (used $180000 for profit calculation to be safe)*Same house 2 doors North sold 2 months ago for $193000*Purchase Price: $90500 (seller will finance with no payments for 6 months)Holding Costs: $2000 (No mortgage payments due to seller holding note)Rehab Cost: $43000 (contractor will estimate before we sign)Selling Costs: $21000 (if I have to pay buyers closing costs)Profit: $22000The house is a time capsule with a workable floor plan.

As I said I would love to simply add on the costs to the tenant but the reality is if there’s half a dozen other apartments on the same block offering the same bedrooms and similar quality for 50 bucks less a month than you can guess who’s going to have a vacancy ?