Just trying to get a better idea of how proceeds from foreclosures work, since it sounds like you are just planning to sell the property and keep the profits (which may be standard, I'm not sure).

It's not like we have a gold standard any longer. 

Risk assessment and mitigation: Quick analysis of crime rates, school quality, economic stability and environmental risks. 5.

What are some standard process or contracts needed before the partnership to make sure both parties are protected?

I think their general stance is going to be to go with whichever comparable property has the greatest degree of similarity in terms of (probably, in this order): location, age built, quality of construction/current condition, and square footage.

I'm also a former math teacher, so trust me, setting up an S-Corp for operations is NOTHING compared trying to get 30 twelve year olds at an urban school to learn math according to state standards.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

Anyone saying that against you think there needs to be some invisible standard of requirement. 

A quality deal you have control (under contract, seller only wants to work with you, etc.)3.) 

I haven't found a good deal on the KitchenAid unit that is the standard but at $90, this might be worth a shot.