Most of the roof is post 2004 and I am told if I were owner occupied this would not be an issue.

And it's also so cool how you guys are all here to help each other out.can't wait to be an part of it all and get on the right track to freedom!

If you would ever like to chat or meet and have some coffee give me  a call. 4402634198 I'd love to meet another like minded individual like myself, and who knows maybe one of us can help eachother with a new deal:)

I always welcome the opportunity to talk about RE over coffee.

A GC is generally going to take somewhere around 20%, so that would be an added $46k, which would increase your total cost to $274k (or $72/ft2, which is absolutely doable for me).So your partner is worth about $45k, given that is what your 50/50 partnership is saving on the build.  

I am willing to work for knowledge and experience whether is demolition, painting, number crunching, or just getting coffees.

A great way to get started.I try to be an investor friendly agent and keep my blog pretty updated with investor articles.  

Assuming those clear, could be an interesting opportunity.  

Be an employee of the owner working on a salary with NO bonuses or commissions.You don't mention what this girl's legal setup is, but you don't want to get in bed with someone just because the tenants love her - the nightmare will end up blowing up in YOUR face, not hers if she does something even mildly incorrect (read ILLEGAL!).

That doesn't have to be an anomaly in a college town.