It will really depend upon his goals and/or objectives in terms of the intended replacement property to be purchased.

Near as I can tell the property is in good condition and I don't expect to find squatters (I do expect to find some folks who have gotten away without paying rent for a while because of the property situation).It's interesting that the "gift" part raises objections. 

My objective would be to hire a property manager.

And yes, we can play all day with where the "line" is, but it's probably too objective to really discuss.  

If you analyze the numbers in a straight forward manner and find that price is the only objection, you might still be able to structure the deal to a close.

Some degrees demonstrate your ability to think objectively, in the abstract, applying theory more than others and such allow greater recognition for that accomplishment. 

The first 2 steps in our process with any client is to (1) first determine the clients goals and objectives for the investment (i.e. additional cash flow, retirement vehicle, wealth building, etc.) and then (2) secondly to explain the market in which we invest - explicitly.I would recommend that you start by defining the goal of your investment before doing anything else.

My objective was seller financing, which I got on this....10% down and 20 year amort.  

While it's exciting to get into RE investing with a partner, you really have to get the emotions out of it and look at it objectively.

Purpose of meetup is to get to know them better, what is their background, REI experiences, objectives to determine some level of suitability and interest in what we are doing.