If you are not going to do due diligence on the operator then yes, you are undertaking more risk but like anything with research there are plenty of excellent syndicates that have a great model, stick to their knitting and have performed well thru market cycles. 

If the installation gets complicated that God forbid requires some demo type work, are they licensed and insured to undertake? 

I am not opposed to properties that require some repair & maintenance work but do not want to undertake large scale renovation projects.I would appreciate the contact information of RE agents in the area who work in multifamily investment inventory to discuss the market and investment opportunities in better detail. 

I am undertaking my 3rd flip in the twin cities area, but my first that needs some SERIOUS exterior work.

-What else should I think about, and would this be a project worth undertaking, why or why not?

Just the amount of sq/ft will make this an undertaking.

If a condominium developer owns appreciated land on which the condominiums are to be built, a sale of the land to a controlled development corporation prior to undertaking development activities may convert part of prospective ordinary income into capital gain.

This project would be quite the undertaking for a new investor in the low income category.As I have been monitoring the Yuma MLS for multifamily homes over the past year and a half I have realized that the majority of the properties listed, are listed for a reason. 

I am not trying to be mean with this comment (only helpful and funny), but with the type of questions you are asking, you shouldn't be undertaking this in any way, shape, or form.

But the undertaking here for her-- having to deal with liquidating and transaction fees is uncalled for.