Based on your list you're twisting yourself to make her happy as part of this, and if you're not going to put a ring on it and she's not going to slap bills on the table for this, then make your moves and she can decide if she wants to be a part of it.Finally, I can give some neighborhood advice but any smart investor or agent here will tell you it is BLOCK by BLOCK and that's the absolute truth.

Financed with a commercial bank loan along with a promissory note to the seller, so that we brought $0 to the closing table.

I'm currently spending some time in NOLA going street by street to establish where I'd be interested in investing.I'm more interested in BRRR than turn-key property, but this is a new market for me so I guess anything is on the table.

I bring the experience to the table and he brings his capital.

Again, plenty of people building off market lead machines to pickup properties below market value, it’s just that when you’re competing with as many people all looking for the same thing in the same space you have to go in knowing what unique thing you are going to bring to the table (cash, leads, connections, etc) that no one else can offer in order to walk away with a performing asset. 

Expanded my network with people of similar goals and people that can use the values I bring to the table.

But, it's not off the table.

I see it as risk off the table.

But you do not have any agreement on the table to collect ANY money for utilities.

An acquaintance recently offered to partner with me on the first property; he would bring cash to the table, this would cover repairs as well as upgrades, pay off the HELOC and offers to manage the property in my absence as well.