If you go through a bank or credit union, I strongly recommend you use someone local. 

Now, not wanting to loose your capital, I could argue strongly to just get the knowledge so you know what you're doing.

Hypothetically, if we were to ignore the price range, would you agree those neighborhoods have a strong (and stable) renter's market? 

If your market has been experiencing strong appreciation and you expect that to continue (emphasized because I don't know how anyone can predict anything right now), it may be worth a try.

Actually, I can't say that, I am still surprised that the Real Estate market here in Toledo, OH is maintaining a strong and healthy presence. 

Since Washington D.C. has stalled a further stimulus bill, layoffs and unemployment filings are continuing apace.The housing market has been strong in many areas, due to earlier stimulus efforts, low interest rates, and flight from densely-populated areas of cities.

Unless your neighbor is coming in cash/clean/and very strong price, you may be leaving more money on the table then saving. 

I have a strong income and have a 700+ credit score so can I cosign sign the HELCO with him since I have the income and he has the asset?

The cashflow opportunity was strong How did you add value to the deal?

BP is full of great content, so I strongly recommend you to have a look at the following resources: 1.