He’s out of state so I cant just go meet him He seems very knowledgeable about real estate but I don’t want to be burned tying up a property and potentially losing my deposit and the deal.

My buddy just approached me with an offer to invest with him in buying foreclosures, he is a GC and he has done house flipping before, he wants me to invest 30K-50K of my own money and use it to get a 6 month rehab loan from a hard money lender at a little over 11% interest, after the House was finished we would split 50/50, he would also add me to his LLC that we would use for that future buy, the reason I’m thinking about investing Is bc I own my own business which will bring 200K this year in gross profits, the down side of my business is that I work 12 hour a day 5 days a week, and I feel that I’m slowly burning out.

Misspellings occur occasionally in document recording references, and sometimes the name the document is recorded in is slightly different....first name/middle initial/last name, first initial/middle name/last name, middle name only/last name, etc. ......almost got burned by this a couple of times.

With 100-year-old properties, it's quite likely we're talking about converted hot water gravity systems and in a place like Jersey City, converted coal burning systems.

@Robert Burns I do the same as @Jim Pellerin.

You'll make mistakes and have surprises, but hopefully you'll not get burned.

Too much squeeze for too little juice, and you'd be very close to getting burned on the deal should you have an unforeseen major expense such as a nightmare tenant you'd have to evict and/or capex such as replacing the AC or roof. 

You may burn some bridges by shopping around, but I like to be very clear with agents that I am talking to others so that they aren't surprised.

He had done a few investments in the past, but sounded like he had been burned a couple of times.

Don't let your money burn waiting on the sidelines.