Was the home in a build to rent community, meaning it was all investor owned houses?

as a flipper, with the participation of a wholesaler and a hard money lender, what actions should I take BEFORE I close and buy a house (tell me step by step please because i dont really understand the sequence of events) and also please tell me when to do due diligence to make sure how much does it cost to renovate the house and is it worth buying this house?

I missed a lot of flaws in that house and I had some painful years as a result.  

Quote from @Vid Vin: Was the house really for 2000 dollars?

When I tried to get it when my side of the family found out and tried ti take over reverser mortgage payments to bank because she had died it was to late so they sold the house to Hud and then other reverse mortgage companies but a relative still lives there so they can't kick them out.

These special assessment were thousands of dollars, and there was no sufficient reserves from the monthly fees to cover these large biggers, so the owner were required to cover the shortfalls out of pocket, what a great way to ruin your cash flow and ROI.There are benifits to condos, including tennis courts, playground, swimming pools, club houses, and fitness facilities. 

I have a lake house near a University.

Working with the city to find a solution.There is a similar situation near me where an investor bought a short term rental house, rehabbed it, ran it for a while, and then got in trouble with the town after a neighbor complained and the town said short term rentals weren't allowed in the community. 

When we were getting our own kitchen remodeled in our house a few months ago, we asked the contractor if he would be able to possibly fix that cupboard door at our rental property.

Borrowers like that.Since money is the lifeblood of all house flips, I consider this a win-win for everyone.