I personally walked and researched every property prior to investing to understand what I was buying, what could be done to add value and what I should expect in cash flow and appreciation.Learning what makes a good investment for you is absolutely necessary. 

The right market for you depends on whether you prioritize cash flow (Augusta, Columbia) or long-term appreciation (Greenville, Huntsville).

Apparently they take preferred interest in your company or have you sign a UCC cash flow agreement.

On one hand I like that it will probably cash flow (we expected to break even at best) and know there's issues with canceling reservations.

But the location is great, and the layout could work for a flip or a rental with multiple units.Would you take this on, or does it seem like more hassle than it’s worth?

I also have an investor putting some cash down who would prefer an inspection be done. 

I’m interested in how others evaluate and track down these kinds of properties, especially from a distance.For example:When looking at distressed properties in other states or cities, what are your main indicators that it’s worth pursuing?

Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow. 

I believe it is 27 years of depreciation that you hedge against any cash flow you received. 

When does the cash flow start?