While I can find and work on projects on my own, I would like to join forces with an experienced investor and shadow a few projects as well.

I seriously doubt the OP would be forced to accept it.

The other three own a share of the house but have no way to extract their money.Are any of these other three wanting to force a sale quickly to get their money?

The other 2 floors have an antiquated heating system which basically a huge heating unit that spits out hot air in both units, these need to be replaced.The cost to run forced hot air into these apartments is going to be between 12-15k based on an estimate we received.

Many of the disabled and seniors in this complex they have signed this due to force and being afraid.

Determining rents is pretty simple...and knowing whether the rents can be forced higher through upgrading the units is pretty straightforward...as is determining whether this building (an 8-unit) will ever appreciate more than a pre-determined price.

Though I should warn you, you *must* have boots on the ground if you're doing that as you lose a lot of control investing out of state and are basically forced to use a PM.

Setting aside some money, even if just a little at a time, not only prepares you for that inevitable rainy day (it ALWAYS comes), but it forces you to learn to live or operate within your means. 

. - Are you able to force appreciation - you touch on this with the permitting to add more bedrooms. how much value can you add?

If the zone is B, C or X, your lender should not make Flood Insurance a requirement (that doesn't mean you don't need it but you wont be forced to get it).