Having enough knowledge of buildings to identify and know how to navigate the issues, knowing how to do repairs myself, knowing when to recognize a good opportunity that had been on the market for a while.

And go 40-60 on any profits should they sell down the road. 

As a real estate professional who is kicking a lot of taxes down the road, I think about what you said often.

Maybe they can talk to the neighbors and find someone that heard the shots and can identify when it happened.

Congratulations on identifying a profitable candidate for purchase. 

Bergford, 12 F.3d at 169.This should be satisfied: (Main Points)The co-ownership may not file a partnership or corporate tax return, conduct business under a common name, execute an agreement identifying any or all of the co-owners as partners, shareholders, or members of a business entity, or otherwise hold itself out as a partnership or other form of business entity (nor may the co-owners hold themselves out as partners, shareholders, or members of a business entity).

I’d be fine kicking the can down the road but it looks like the company wouldn’t allow me to do that.

More $$ right now, but more return down the road, and a LOT less hassles.You'll have more money and peace of mind.

As I like to think, you began investing in Real Estate the moment you took interest and started along the road of investing in your first property. 

(Snow/lawn care/minor repairs, not roofs/siding/roads, those are assessments.no management fees as owners are required to serve on the board as required)