I really appreciate all the encouragement, now tell me why this is a bad idea so I can make an informed decision. 55 is not that old in the scheme of things, but when I owned a home in my thirties there were lots of things I could do then that I can no longer attempt.I will be working at a full time, relatively low paying job until I retire.

Run your tenant check Before you have the association check run, and make your decision.  

You don't have to make a decision any time soon.

Whats the point of you putting in the offer if the other partner is the one making the decisions?

In order to get more data points for a good decision I would recommend you continue listening to BP podcasts, join every weekly BP webinar that @Brandon Turner offers (last Thursday's webinar was made for you, so ask Brandon for the replay) and read "The Ultimate Beginner's Guide to Real Estate Investing".

It's not an easy decision to get started, but is definitely a step that needs to be taken at some point.

It's her first time and I want her to make the right decision.

You will have to discount it but at least you will have or he will have some money to move on to a deal where he can make a better decision and selection of a property that will produce a better outcome from a profit view point.

I politely stated, "I absolutely respect that decision.

i have 3 really close realtors friends... 1 i was married to and 1 i worked for... so i am still on the fence about spending the money to get my license... but the commission's and the flexibility may be worth it.... decisions, decisions...