Oh yes, painfully fun question. Because I KNOW you're hoping to come in way under budget as compared to what your friend spent.
What creates Stealth Bomber magic?
5304/5405 crystallite motor - http://www.electricbike.com/crystalyte-hub-motor/ Yeah, you wanna play, you gotta play. But MAYBE you can get away with http://endless-sphere.com/forums/viewtopic.php?f=2&t=53119 Under $1k for the kit once it's shipped. http://www.alibaba.com/product-gs/1138310936/High_power_3000w_electric_bike_conversion.html
Now, your friend is sporting a 72v 20a battery. This kit offers "48v 29Ah li-mn or 48v 20Ah LiFepo4 battery" as a choice. 29a sounds better than 20a, but LiFepo4 sounds best of all. (No, I'm not over my fear of Lithium yet, but. . . .) If you want to run at 72v 20a, you can discuss that battery when you order, I'm getting the idea these guys will customize, as those in the thread suggest. Of course that would put a few hundred on the price.
Now, do you have any money left? You might like the Raptor frame kit. http://www.torquebikes.com/index.php?option=com_content&view=article&id=109&Itemid=236 I guess you'd top $2k by the time it's shipped to you. http://endless-sphere.com/forums/viewtopic.php?f=3&t=48089 Or maybe you have the skills to put your own together. If you want to build, you've come to the right place. Oh yeah, we have frame building threads around here. http://endless-sphere.com/forums/viewtopic.php?f=6&t=51847&hilit=frame+build
I like the sound of letting the kit price top $1k to get the 72v/1500 watt battery, then you build your own frame with some old bike. I'm sure it would run under $2k total if you don't go for niceties. Durability might come into question depending on the donor bike, but for the time being I'd expect you to hang in there with your friend.
If you're not ready to go $2k yet, maybe you can start out at $400 on some old Walmart bike you have. This will mean allowing some latitude on what you consider "Keeping up." http://www.yescomusa.com/Brushless_Electric_Bicycle_Engine-_48v_1000w_Rear_Wheel_Hub_Motor_Kit.html I'm sure there could be some other similar kits people around here prefer and will recommend.
I'm surprised you haven't captured any imaginations yet, this is normally a popular sort of discussion. Maybe people who think they have better ideas than I posted will go ahead and respond after reading this.