The benefit is significantly less red tape compared to working with your traditional local banks who also do new construction financing.

I am pretty much expecting red tape but hoping to be surprised. 

Vetting Potential PartnersOnce I find a potential partner, what are some key questions I should ask or red flags I should look out for when vetting them?

*Any red flags unique to the Pittsburgh market.I’m also hoping to connect with fellow investors, agents, or property managers who are familiar with the local market.

@Brittney Yang first red flag is it doesn’t sound like he’s that interested in long term holds but the primary reason for partnership is expertise in renovation and secondary reason is balance sheet and income to help get financing.Regarding reason one, I would offer to compensate him for his time in assisting you and have a very clear scope of what that responsibility is.  

Not every inspection request is a red flag!

Ditch the red rug, increase art and add dresser, bedside tables to bedrooms.

Now, my thoughts (full disclosure: I am not selling you anything): I see it as a red flag that the GP is doing a capital call, but you don't know why.

Would you have any recommendations, in your experience, for what to look out for in the documents that would be red flags or items that would negotiable?

Legitimate lenders may charge a small application fee (around $250) to verify you’re serious, but if someone’s asking for thousands with no real intention of closing, that’s a huge red flag.On a more positive note, there are creative financing approaches out there.