The majority of value that a realtor brings to the table is hand holding, problem solving and emotional counseling.

They're also asking questions like, "How likely is this buyer actually to make it to the closing table?"

We'd both be bringing a stable income/job to the table, he'd bring most of the down payment, and I have the homeowner "experience" and am more than dangerous with a good toolbelt. 

We all have something to bring to the table but a 3rd party PM can take some of those responsibilities away.

Its against my core values to evict people who need a roof over their head when they are already struggling just to put food on the table.

On 10,000sf I would assume soft costs of $15-20/SF and hard costs of $150-$200/SF (depending on where you are at) so best case you are looking at an all in cost of $2.2M so you would need to bring about $700k to the table. 

@Michael John, I'm a huge believer in taking every tax free dollar off the table you can at every opportunity. 

Your better off depending on what you can bring to the table is to partner with someone who has the capitol and learn thru them.

At the very least I'd run the deal by a few local agents to get their opinion on pricing, and get an appraisal whether or not it's a lender requirement just to make sure you're not leaving money on the table. 

I (my affiliated firm) works with a lot of qualified buyer leads which is just a little extra something that I have to bring with me to the table!