i have a site that in real time page rank could be a PR5. it has a bunch of one way links and a handfull 2 way links. would it hurt my site at all if i made a site in a folder (www.mysite.com/folder) that would have mostly have out bound links and a handfull 2way links?
If you are asking if you kept the main yoursite.com and just added a blog or ?? to a sub-folder as yoursite.com/blog than no, It will not hurt you at all ! In fact, it might draw more spider attention and traffic to your main site depending on what it is!!
When you say Outbound links, are they going to be sources to articles? Or you want to sell a bunch of Outbound links. Outlinking to good relevant articles is always good. Some of the sites might even return a favor in the long run. If you are thinking if those OBLs links dilute the value of the IBLs to your main root site, it shouldn't, if it is not a LINK page.
If you create a directory off your domain it wont harm your original ranking but it wont carry your original rank over. Make sure you name it well
Outbound links if relevant can theoretically actually help your rankings. There's speculation that they give a small boost because they help establish relevancy. For instance if you sell widgets and you are also linking to an authority site about the history of widgets - that's one way that search engines can help establish the context of your site. Irrelevant links won't have the same benefit. Dylan