Quote from @Kyle Schachsieck: Thank you all for the information and additional resources!

Might be an additional cost there.If units are updated, capex items look good, leases and tenants look solid, and there are no other regular expenses besides the 5200 in insurance/property taxes then I like this deal.  

Additionally, I’d appreciate advice on pricing.

Looking for some advise if it is right choice to additional capital to this investmentHere is how I look at a capital call.

We will have lots of renovations and additions to do over the years, so I'm worried that it will be hard to save up for more rental properties.Any suggestions?

Are you looking to do additional projects like this in other cities/states?

What I found was, yes it was nice have additional income, but each project seemed to always interfere.

I rented out the additional bedrooms to friends and family, charging them well below market, and sold when it was time for my wife and I to start our own adventures.

In addition, condos tend to not appreciate as fast in value compared to single-family or multi-family homes. 

Additionally, his credit is not the best, and he has limited funds for a down payment.Any potential options or solutions that may be available?