Our plan is to improve the property through updates to modernize the units and make the community more aesthetically pleasing.

You brought your particular skills and your partner brought the money.

The hope is that with the additional reps, the more efficient and refined your skills will become. 

Thanks for the replies so I think I may have to pass on this despite it having all the good signs of a good deal. 1) The whole thing caught me off guard when the real estate agent I met reached out to the owner, despite the property being  sold last year and the owner just so happens to want to sell and sell quick.2) I do not have a lender lined up nor do I have a proof of funds to show tomorrow  plus me and my wife are about to refinance into a lower monthly mortgage, trying to get pre approved for a HML will interfere with our refinance plans.3) I feel I need to do more research and studying to sharpen my skills, on the other hand I do not want to go into annalists paralysis. 

Few dimensions:1) Most employees are not skilled at drawing a hard separation line between the so called “W2” job and the “side” job.

Is there a way you can improve your job skills or pick up side jobs for extra cash?

Increase your sales/conversion skills.

Your knowledge and skills as a GC = $$$$, so take advantage!

Sounds like a solid deal and you have the skills to make sure the job gets done according to plan.

I am not able to jump right into my second deal just yet so for the time being I would love to keep the wheels turning and help others analyze deals in a similar freelance type fashion to really hone my skills further.