I am just concerned about  trying to make the 1031 timeline work for an asset type I haven't worked  with before.

Most people are concerned about rent raises so in a recent fill of two units Month to month which I haven't done before I made it clear the property was available for year round occupancy and the intention would be annual raises. 

That being said, I am more concerned about your assumption that putting $5,000 into the property will result in the $35k value increase you have in the calculator

He has other cash flowing properties and lives a frugal lifestyle so he does not seem too concerned about replacing the income from this property or have much plan for the proceeds of this sale.

I also share @Scott M. concern about the lack of deposit.

I particularly like the way he addresses the potential investor concern about the impact of inflation and the reasons that multifamily continues to grow. 

If she is making the claim she needs to back it up if you have concerns. 

Any pro tips on partnering with friend, what expectations/rules should I set in place from the start, any negotiation leverage given I might have more responsibilities and any concerns on partnering with someone who doesn't hold citizenship or greencard in US?

This is concerning a property we have under contract in Minnesota.  

This is concerning a property we have under contract in Minnesota.