Just because you strike an agreement with the seller does not mean you are in.I personally don't like condominiums as investments for a few reasons, but they can be good with the right numbers.

One piece of advice though, if you strike a deal to give him money to move, no money is handed over until he actually vacates.

I'm fully determined/committed to learning and gaining the expertise that I'll eventually need to strike out on my own.

We have yet to completely strike out, but it is probably bound to happen.We also take a general approach as recommended by @Ryan Pineda @ryanpinedashow of a 10% minimum profit of the end sales price.

The idea of partnering with the contractor sounds attractive to potentially avoid typical contractor problems like quality shortcuts, walking off the job, slow work....partnering with them would theoretically align their goals with yours to reduce costs, speed up work, etc.The issue I have had is striking the right balance and profit split.

There's often a delicate balance for PMs to strike, in that both the property owner and the tenant are their customers and they sometimes have competing interests.

As far as the mentorship maybe strike up a few casual conversations and see if something develops naturally.

Finally, Be Ready To Act When the Opportunity Strikes! 

The home is probably valued right at the strike price now or perhaps even a little more. 

And, where I am in Delray Beach is widely publicized as the hot place to be and vacation in the small beach town market; I LOVE living and investing here, but the deals are basically gone and prices are high-- there is still upside, but you have to hunt daily and strike immediately.I'm no expert, but I hope my comments can provide some color to your search!