My thought is to help him out by going in 50-50 partnership for many reasons: half down payment, half capex expense, strong co-signer on loan, me being local to investment property to take care of little things that need attentions (he will be out of state for his job/I will have PM), etc.  1. 

Since hard money eats into profits, consider private lenders, local banks, or partnerships for lower-cost funding.

You are going to pay more for something new so you might take a look on the local Craigslist, FB marketplace or OfferUP and see what is out there.

Unfortunately, 99% of BiggerPockets posters who are not local to Philadelphia and choose to invest in Philadelphia invest in the lowest tier neighborhoods, just as they do in most other distant markets where they invest because they are lured in by the inexpensive cost of housing. 

Talk to local investors, study rent comps, and understand how leasing cycles work in your chosen market.

Will gladly work with her again if I have anything where a Realtor adds value - she's local, knows the properties and the people involved.

I'm also from Brazil and I'm local to Stamford.

Thank you,Phil Don’t have any experience with the mentioned mentors, but I do have 45 years experience in commercial real estate investing.Flipping (wholesaling) commercial properties require the same base of knowledge (real estate principles, real estate law and real estate finance) that is a foundational requirement for flipping residential properties; PLUS, extensive knowledge of the commercial property TYPE one is trying to engage with, and extensive knowledge of the local real estate market for the subject property type. 

Unfortunately, every state and every locality has different laws and what works in one location doesn't always work in others, so you have to be very careful about the 'free' advice that is given in online forums. 

Something like $1,200 for the local “fancy upgrade”.