I have been watching prices rise over the last 6 years of living adjacent.

Depending on the endeavor, your still have potential origination, closing cost, reserves of different size(deal type dependent) and other applicable fees/costs.

Move slowly and carefully and watch for booby traps.https://allthatsinteresting.com/collyer-brothers

It's hard to watch the flood damage in the news because my wife and I have visited numerous times.

If you ever want to see the difference in person, just try running a cheapo Chinese nail into an old-growth 2x4 and watch it bend in half. 

He stated they also have misunderstood the application of the law, and in doing so, made a hasty response to his request that they notify the tenant which leaves them open to a claim against them. . should anything go wrong. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I read a few of the posts and would recommend talking with a lender in regards to the multi unit property since so far you have only watched videos on YouTube or podcasts.

What questions should I be asking, what should I be looking for and what should I watch out for as a future investor while searching and interviewing sponsoring brokers?

Or do you base terms on down and their credit application?