Yes it will. The more weight the better. The advertising says 3.5kg weight capacity for that model. In youtube there are plenty of tutorials on flycams and steadycams. Cheesycam has some really good ones.
https://www.youtube.com/watch?v=xEkgSTRNppQ

BMPCC is a big beast in a very small package. You can buy used for 700-800$ but you need to add things (batteries, cards, etc).
Depending on what you are going to use it for, a used DSLR such like the Canon T4i can be found for 350$ for sure. That paired with a Yongnuo 50mm 1.8 (60$ new) is a great low light DSLR kit.
Check out Kendy Ti's work with just a T2i and a 35mm Sigma lens. It's just amazing!
The most important thing is knowing your gear to get the most out of it.
Good luck and sorry for your bad experience. I always buy used through ebay and paypal to try being a little safer.

Here you have some samples of what I have made with the BMPCC (using Prores LT):
https://www.youtube.com/watch?v=z1c5DqcxN8k
https://www.youtube.com/watch?v=QcXDo16c1cw
https://www.youtube.com/watch?v=tZusS9_11jY
https://vimeo.com/128780221

And also others I made with the T4i and Magic Lantern raw:
https://vimeo.com/111512507
https://www.youtube.com/watch?v=EB6O5yfCSvQ
https://www.youtube.com/watch?v=clcVjGrqBr4

Just my two cents: I bought a used ASUS ROG G55VW laptop (i7-3610, 8GB ram, 120GB SSD) for 450€ on ebay and it runs Premiere Pro, After Effects... CC 2015 perfectly and I can edit DSLR footage (h264) and BMPCC (Prores LT) with absolutely NO ISSUE.
Sometimes you don't need to spend that much to get the job done.
I work in FullHD, I never edited in 4K or so. But I do a lot of editing and color correction in FullHD.

Maybe it's too late. I think it's a good deal, but I woul suggest you look for a used Blackmagic Pocket Cinema Camera. It's made for narrative work, supe cheap, GREAT image quality, different 10bit prores codecs, raw recording...
In the end it depends on what are you going to use it for. Coming from a lot of DSLR use in the last years, the BMPCC is miles ahead, and after little use I find it really easy to use. You need stuff like speedbooster (I have a Roxsen one, excellent and cheap), you need batteries (sony batteries with a plate adaptor, cheap and plenty of hours of power), SD cards that are really cheap nowadays...
For the price it's IMPOSSIBLE to beat the Pocket, in my opinion.
As it's always recommended, do some research and know what you are going to use it for.

Wow, your videos look amazing! Are the last 2 videos shot with the GH4?? :O
You really pushed all the juice out from that camera! What lenses do you normally use?
Congratulations on your work, I love it!

I think if it's a low Budget movie 4K is not a must. You can get amazing images with a little camera like the Blackmagic Pocket, which is 1.000$ and you can use the rest of the money for renting lenses, light equipement or sound. You can even shoot raw, but I don't think it's a must, neither. Prores HQ is a really strong códec, and you have 10bit color images and film mode. Also, SD cards are super cheap nowadays.