Expecting to make money off of a persons basic need and then using that need as leverage to basically force people into submission.There’s no concept of fairness in the nature.

Or should I be staying away from projects like this for my first property and focus on finding something that doesn't need too much work that would still slightly cash flow (when I'm not living there), and has a potential to appreciate naturally?

Additionally, the LLC ownership of your rental property will increase the lending and reserve requirements for the property, meaning the investment will be less profitable, while filing the additional tax return for the LLC and ensuring the LLC has adequate cash flow to stay solvent while simultaneously trying to not intermingle personal and LLC funds to uphold the asset protecting capability of the LLC is a whole lot of hassle. 

I want to be able to reassure them that adequate measures were taken to be reasonably sure no infection remains.

Brandon Turner also says to focus on friendships, and mentors naturally come.

Lessons learned are very lengthy, but here's the short list: Always check flood zones, work with a contractor that is used to working with the city and pulling permits, work with a contractor that is used to working with residential properties versus commercial, schedule regular meetings with your contractor to check on status and hold accountable, be sure to consider permitting time when calculating holding costs, and lastly, be sure to have reserves in case of natural disasters (i.e COVID)

Lessons learned are very lengthy, but here's the short list: Always check flood zones, work with a contractor that is used to working with the city and pulling permits, work with a contractor that is used to working with residential properties versus commercial, schedule regular meetings with your contractor to check on status and hold accountable, be sure to consider permitting time when calculating holding costs, and lastly, be sure to have reserves in case of natural disasters (i.e COVID)

No one should be lending money without adequate legal representation @Emily Wilson Litzinger.

Human nature is the killerHuman nature can be greedy, impatient, egotistical and fearfulIf I called somebody `averagely intelligent`, for example, it would be considered an insultIt is normal to think you are smarter than others, and can time markets, and can use `research` to beat the market even though it is all publicly available information4.

Remember to account for expenses also (rule of thumb is 50%) in addition to closing costs and adequate reserves.