First Deal Analysis

[Ben Glaser]

I am looking at potentially investing money into a condo development project.

It's in a good area, the guy I would be partnering with already has the lot, he's working on plans, and everything seems like it's lined up. 

CAVEAT: I have never done a deal or invested in any real estate besides a single family home before. 

What I need is details on how to analyze the deal and make sure I'm making a good investment decision. 

Any help would be very appreciated! I know someone is going to say hire someone and that is sound advice, I don't even know where to start and I would like to know at least the very basics on analyzing an investment because I like to personally know what I'm doing and I will also hire someone when the discussions get more serious.