Or buy a fixer upper and work on renovating (valuable learning experience if damage not too extensive) during college years then sell and keep up to $250,000 tax free profit as your primary residence allows.

Nonetheless, the only way for him to get anywhere near the profit he's looking for is through seller financing and since he owns it outright that's a solid option. 

So, it could be an opportunity to pocket TAX FREE profit. 4.

We have a friend/business partner who would give us $37,000 and we thought we would put about $10,000 and we'd split profits as 63% for our friend and 37% for us.

Expenses can eat up profits in less expensive areas. 

With that being said I think you will find the multi-family model, 2-4 units more profitable, than a SF.

If they get paid up-front, how hard will they work to make the deal profitable? 

Bottom line was a $1,325,000 profit on a $1.775,000 investment in little more than a year and a half.  3.

We got the seller a quick and easy sale, while adding a profitable deal to the end buyer's portfolio What was the outcome?

I know it likely lowers the profit margins.