There is an advantage to being at an open outcry auction, but it moves fast and it takes some getting used to how the auction is conducted.

Our programs and 'schemes' are sound, we've closed enough deals, to be honest I just don't like the way most of them conduct business.

Generally in most purchase and sale agreements it says that the broker/agents are NOT legal advisers, accountants, inspectors, etc. and that buyers should conduct due diligence properly before buying.

If you knew how much stuff investors put up with and also as a broker/agent you would know it's just part of the business.Might not be right to you or how you would conduct business but there is a threshold to prove unethical or illegal that has to be met.

I have only a bit of knowledge on his current situation and I would clearly conduct some due diligence before going any further.

The destination of your current path is a train wreck.Next, invest in professional training so you know the right way to conduct a wholesaling business. 

Now, the note holder has issues defending against all the shades of grey of use of funds, collateral, actual business conducted, etc.  

Nothing is guaranteed to happen but owning an office unit in a condo building over time they may or may not have appreciation but the gains if any are usually smaller.I do not see the office I own as a huge investment or money maker but a place I conduct business.

For the past 7 months I have been conducting research on real estate investing.

So you might want to read on these articles/threads:How to Effectively Conduct Joint Venture Agreements as a Real Estate Investor596231-how-do-i-properly-construct-a-purchase-with-a-partnership591376-create-an-llc-for-first-partnership-best-way-to-do-so526244-taking-on-partner-s-and-limiting-our-liabilitesSecond, @Dustin Beam and @Thomas S. and are correct in the strict sense of your question - no tax advantage.