If you’re in the same city and he is retired, it’s a good possibility he will not be content riding shotgun.

Do I walk away from this deal and lose $11,000 (which to me is a LOT, I can't make any mistakes with purchasing my 1st property because I have everything riding on this deal.

One guy I gave a ride to was a construction worker and he had fascinating info for me.

If you buy a previously rehabbed property in the current market, it is unlikely you will be able to ride the market to the 20-25% you need to refinance into a conventional loan.

Perhaps you have a family member or friend of the family who owns their own business that might employ you or let you at least ride along with them and learn from them on the weeknights/weekends?

A 10% stake does not stop her business from going under.Last but not least, it seems like you have a lot riding on this one tenant.

First of kind luxury condo in south shore of Montreal (10 min train ride to core downtown montreal)III.

The early adopters riding the next wave of technology?

When these two cycles are running contra to each other it can be possible to exit real estate at a high and enter Oil working or royalty interests  on the upswing and ride that till the next real estate correction.  

My experience from living here and riding bicycles everywhere tells me to drive the street(s) that you're looking on.