Sounds like there also may be a bit of emotion involved. 

you have to be positive that the numbers will yield profit for all involved parties. if you aren't sure of the exit strategy or how you will secure funds then you still have a far way to go. do you have cash buyers with verifiable proof of funds lined up?

After you have your first property if she is not involved consider yourself lucky.

In addition, he represents property owners in connection with condemnation proceedings, real property tax appeals, and zoning and land use issues.Marvin has also developed an expertise in outdoor advertising and has been involved for many years in issues critical to that industry.

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.

Is the move to grab good rental deals and hold them until values really improve or will we start seeing high ARVs in these areas in the next year?

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

@Todd Dexheimer is right about locking in to a longer term - I'd also look for longer amortization to improve cashflow.