The amount you'll save off of the purchase price will be significantly more than what the vacancy will cost.

At the beginning Blue gate said we were good with the loan approval.

The initial plan is a 1200 sf build out with plans to expand back away from the cliff later as finances and interest rates are more favorable.

.: Quote from @Don Solt: Hi folks, As the topic states I'm looking to learn everything I can about the City of Philadelphia and its real-estate market.

It is not really apples to apples, but generally speaking the more money invested the further ahead you will be eventually in the future, just because your compounding base is higher, regardless of where the money comes from - ie, 4 300k properties are 1.2 million on property, which is double the 600k property.

I checked out the app for you.

Then ask them what your options are to reduce payments in the future.

There are accountants who say that applies to the opportunity to discount sale and/or basis shift to further lower the tax bill.  

I'm have been asked to enter into a partnership with an experienced investor, and I'm not sure how to or the best way to structure a partnership.

At a minimum,  you should understand what the current zoning is and what restrictions there are.As the post above mentioned reaching out or going in person to speak with the planning and zoning department will be very helpful.