Are you familiar with a resource I could use to uncover foundation issues in the community or surrounding area?

General Partners can easily steel money by hiring contractors and getting kickbacks, or by generating bills for services where the contractors and vendors don't even exist because it is very difficult to uncover these actions and expensive to litigate.

All was well until the inspection uncovered that it would need a new rough soon and also the demand for renting a room in Missouri City wasn't actually a thing.

Showing an unrealistic refinance in year 2 instead of year 3-4 will likely turn a 13% IRR deal to 16-17%.For what its worth most deals I deem meeting minimal IRR standards is 13-15% but you have to dig a little deeper to uncover the real placements of cashflows and capitalization events... and then dig even deeper to verify the assumptions such as occupancy, rent increases per year, and what reversion cap rate was used.

I'm not saying they don't exist, I'm saying my skill level (newb) has yet to uncover any.

You're unlikely to find your typical cash flow properties unless you uncover an incredibly smoking (re: motivated seller) deal or put together a creative finance structure like a lease option or wrap.

Our realtor invested in the same area, and our research uncovered a poorly marketed / vacant apartment complex.How did you finance this deal?

Not because I love taxes (quite the opposite) but because I wouldn't expect the government to go with an error in my favor once the mistake is eventually uncovered - because it probably will be at some point.We already have a bunch of great ways to save on taxes that are fully within the bounds of the tax code.

What would I uncover on a tour?  

Now I did have a client hire an “attorney” to send me a demand letter for $400k, after my ten second google search I was able to uncover this said attorney had his license revoked, reported him to the state bar and laughed all the way to her eviction hearing.