In the least this person, if they are good at what they do, will be worth their weight in gold for the knowledge and processes they present to you. 

I have a potential partner who has more capital than me, but I want to pull my weight.

I am looking at gradually getting into the real estate business with the hopes of not having to work a "regular" job one day.

Then gradually branch out into wholesaling and fix & flips.

If they are federal loans, then if you consolidate, you get the weighted average of the interest rates and you don't save any money.

You will gradually meet local investors.

I think it is absolutely possible to play it safe in RE, buy and hold properties and gradually build a nest egg.

General condition of the building, income approach and comps for price/unit would be the most heavily weighted but also include the market itself...

Also, listen to the podcasts...they are worth their weight in gold (probably even the weight of your Iphone).Best of luck, and never be afraid to ask any questions at all, you would be amazed at the connections and informations that are waiting just across the keyboard from you on this site.  

If the cost approach is relied on, it can't be given more than 49% (last I heard) weight in the final analysis.