This certainly confirms my fears regarding the situation. 

I'd be nervous about taking on that kind of project for fear that it will take a while to find a buyer with that kind of $$$.

But with interest rates going up I fear that while the numbers are good for this year that maybe next year or the following that the rate will go up and then we'll will be deep in the red.

I'm hesitant to bring this up for fear that it will be abused, but curiosity has gotten the better of me ... there is a misconception that in a foreclosure the property owner loses all their equity.

Don't let that fear drive you to making the wrong offers.

The good thing about fear is that it typically prevents one from entering into a dangerous situation.

Mostly due to lack of savings, fear, and unconvinced spouse.After saving a bunch, seeing a healthy increase in my salary over the last few years, having the support of my spouse, and seeing some appreciation in my SFR,  I feel like I'm ready to make a move. 

How do you know who to trust (which is probably my biggest fear)?

Yes, your friend should focus on putting this windfall to work, but rushing into investing it all right away out of fear of 'missing out' is not the way to go.

I guess my biggest fear is getting to the closing table and no funds arriving.