Good eye.

If lenders are involved, the checks are made out to them, too. 

In my opinion there are too many factors involved in an association that could disqualify the property as a deal and many of those things are not feasible to acquire in a couple of hours or perhaps even days.

You would not doubt stay involved for the comfort level your friend has with you but there are a wide variety of nuances with any commercial lease that would dictate the need for someone who specializes in the product type.

Check your covenants, by-laws, and declaration to see the scope of their involvement in the complex.

Then you should also always get a second pair of eyes to check the numbers you came up with (let's say a real estate agent or preferably 2). 

I'm new to real estate investing and my main purpose for getting involve is having a cash flowing stream of income that will eventually replace my current 9-5.

I would really like to find someone who could give me some pointers and maybe even involve me on a deal front to back.

I've developed my own system, that involves the following:1 - The 3 Pillars (mine) of REI...Market Analysis, How Money Works, and Developing a REI Plan...and how all three are equally important, and must work as one.2 - My REcapS System (a system within a system) that is a 3 Level circular (perfect) system where Level 1 feeds Level 2, which feeds Level 3, which comes back and feeds Level 1 again (thus the circle, or perfect system). 

I reached out to my agent and I am keeping an eye out for similar properties on the market.I do see one very similar to mine going for ~450k...is that considered a comp or does it need to be a sold price?