An agent should be able to send you a estimated proceeds sheet. 

Quote from @Anderson Banegas Cerrato: Scott, appreciate the detailed response!

Estimated cost for remaining changes (all new electric, drywall, tile, fixtures, cabinets, roof, doors, windows, heat pump, some siding, and fencing.

There are significant details that I'm choosing to leave out regarding rent payments and balance left for the owner as you terminated the lease early. 

Your friend should include as many details as possible concerning how they were pitched the investment in the prom note.

The goal between the existing cash flow and the estimated equity upside on the lease renewal to hit 2X total multiple to LP's in 3 years or under time.

For example, more downpayment means less interest rate regardless or whatever loan.I am trying to see what sort of action I can take right now so I can plan detailed and measured steps to my goal.

These minor details are the kind that distract people from the path of success. 

with our estimates for both income & expenses on this property.  

Additionally, I've been spending a lot of time evaluating condo / HOA management solutions and accidentally stumbled on ManageCasa, which offers a free trial and < 3 unit free tier that has allowed me the time to get in, kick the tires, and really appreciate their attention to detail and broad feature set that adapts to each unique industry sector.