Screen team members for referrals, communication style, and technology comfort.Good luck!

It's a thought of mine as well, basically following my mentors model. 

These GPs have a great interest in keeping their potential LPs (marks) ignorant so they will be protecting those interest mob style (dealing with rats).

I know a lot of builders up there, but not very experienced with the flipping model.

It's hard to say if a 60k house is worth 40k or 80k, that's within the margin of error based on how much do you consider condition in your valuation.The % based agent commission model does not make any sense below 100k.

style of housing??

So, it matters to also have a life style fit. 

Just because you are tracking ahead of that estimate does not mean your deal is bad.Do you believe your capex is structurally higher than you modeled?

Is that not a repeatable business model? 

You're essentially buying into a partnership with your friend with the partnership owning and operating the property.Now, the financial side of that gets more complicated and would generally include an advanced proforma/financial model that includes a GP/LP equity waterfall schedule that is based on how you and your friend agree that you will pay her and also share the profits.I assume that won't make sense to you right now, but I'll send you a DM.