Assuming this is in fact a good deal, and your friend is a qualified GC, instead of trying to be the lead investor, he should be searching for someone who has the balance sheet to take down this deal on their and be a transactional participant.

You'll want to be clear on the IRS rule for material participation if you do decided to switch to property manager. 

Hello,I was wondering if anyone has participated in the Philadelphia tax foreclosure auction recently and how long it has taken you to receive the deed?

Have you participated in any deals?

Or you can do a participant loan from it and purchase outright or combined with financing.

Only eight or so have participated in Section 8 housing—and every one of them lost money and quit after the first year.

For our next play we want to get into a single or multi-family, and preferably participate in what seems like a booming market in Florida. 

I'm not able to meet up as I'll only be there at the end of the month but definitely interested in following progress and participating in discussions.

We took them to arbitration, but they did not participate and we found out they closed their offices and I believe the owners are no longer residing in Florida.

That is the true value of participating in things like this that are a bit more involved.