And at same time has an agreed upon triple net lease agreement in place ,upon completion, with a STVR management company paying investor lease payments greater than cash on cash of 18% per year.( assuming leverage) 

You should be reviewing it, double/triple checking your assessment, cross-referencing by appraisers, re-running yours using appraisers numbers, really digging into the data to get a better understanding of your process and possible weak points or flaws. 

Our home is 6000 square feet and we bought it for less than your friend is asking.We moved here from Maryland and tripled our house size with the same payment.

Generally, you need this to assess a market cap rate for an office building:-Occupancy rate (current and historical) for the premises and the surrounding trade area -Expenses as a percent of gross scheduled income-Rental rate PSF for each space (ideally they are at or below market) -Age/class of building-Quality of the location -Rollover risk -Lease structure (full service vs. modified gross vs. modified triple net vs. absolute NNN)-Credit of tenant(s)-Supply/demand for office space in the current market A ton of factors need to be properly evaluated to assess value in any given market.

If it IS something I can get into while double and triple checking everything, how much should I be willing to put into a property to rehab it?

I read that triple net leases are one of the best to look to the long term-hands off deals, so maybe you look into doing that next?

Now if I was willing to invest 2-2.5+ million I could get some really good ground leases or triple net with excellent tenants and excellent locations.The SFH's I've at least bought @ 10% or less than market value and worst case scenario I can sell them rather easily.

Ugh...Even so, I will be investing OOS, no investment is guaranteed 100%, and if "Triple~Check" everything, I believe I will be fine. :)  No RE investment is perfect, and it is not "If" it will happen, it is a matter of "When".

Rents tripled during that hold and sold last month for 3.25 mil.

If you're doing it more directly, its more work, but less than landlording.With enough cash, triple-net properties, like Walgreens, become possible.