My thought is to help him out by going in 50-50 partnership for many reasons: half down payment, half capex expense, strong co-signer on loan, me being local to investment property to take care of little things that need attentions (he will be out of state for his job/I will have PM), etc.  1. 

If y’all could help with finding out if this is worth purchasing is a good investment.

I'll have to check it out!

Also, I would like to point out that at Rent To Retirement, we work extremely hard to provide a positive experience for investors. 

One of the reasons I chose ReSimpli was to also send out postcards.

I am on the lending side of things so feel free to reach out if you ever want to talk shop and finance options that are out there. 

@Daniel LangRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Congrats and knock out that extra debt you accumulated so you can save up for STR #2!

I am looking for some 3 families right now, but slim pickings out there.

I suspect the easiest thing to do is do a cash out refinance to pull enough funds to pay for the rehab.