What are some SOPs or best practices on due diligence before investing into a fund?

[Chris Hoffmann]

Hey team, 

My name is Chris Hoffmann, I am a small business owner based in Dallas, TX. Just finished up the winter Rookie Bootcamp where my wife and I have decided to leverage a HELOC from our primary residence to invest into a fund managed by people way more experienced than us as we learn.

That being said, we don't want to be taken advantage of. What are some best practices, checklists, etc that you follow in due diligence regarding a fund? 

Keep in mind- the investment group we are looking into provides a deal platform that breaks down the deal and also provides a LIVE webinar to ask all of your questions. I know the co-partner from an event I attended and he would give me more 1:1 if I needed it. 

Any advice, feedback, or resource would help. Thanks in advance!