Yeah, I hate to rain on your parade, but I agree with what has already been stated -- this doesn't really sound like a story that lends itself to the found-footage style of filmmaking. Like others, I like your concept, and I think you can make a really cool movie out of it. I just think straight-forward narrative would work best.
Found-footage is an off-shoot of the mockumentary. But wherein a "normal" mockumentary has a built-in reason for the camera to be running (they're shooting a documentary), the found-footage needs some other conceit.
The Godfather of found-footage movies, Blair Witch, took the mockumentary path. These kids were shooting a documentary, but then got lost and stupid. Since then, we've seen all sorts of reasons why someone might have the camera constantly running.
In any case, the REAL reason the supposed camera is always running is because a mockumentary/found-footage movie is generally incredibly less expensive to shoot than a straight-forward narrative.
I suppose there could be legitimate artistic reason to shoot in that style, but in my opinion, I'm yet to see it.
In the case of your story, the reason for the camera constantly running sounds contrived, to be completely frank.
There is, however, the possibility of mixing both styles of shooting. No reason why you can't have "camcorder" footage mixed in with floating narrative camera. Modern audiences are accustomed to this, and it'd be up to you to find a way to make it work.