Where do you find the data and evaluate it's reliability? 

I know the market is very tough to crack but I have some pretty good resources and I'm very good with evaluating a deal.

Run a background check and evaluate the SAME way every time to avoid Fair Housing lawsuit.

@Justin Strait  I am currently evaluating Anderson Business Advisors.

Like any active investment/business evaluating the business environment is part of the CONTROL we have!

@Roger D Jones just remember that you should really evaluate the terms around the JV agreement.

As the title says, I'm hoping to get some feedback on possible factors I may be overlooking. The property is 45 minutes from where I live in a town that is growing and am very familiar with so I plan on doing most of ...

I can help you with evaluating the current property market value if you need a Virginia REALTOR's® input.

And evaluating the track record is a call that's made first by the taxpayer or their CPA, and ultimately by an IRS auditor (should one get involved). it is very true that the IRS cares about intent with respect to capital gains in real estate -- I've certainly seen cases where the statutory timelines were less important and the identified intent of the investor.with respect to determining whether you qualify as a developer or an investor, it's much more of a "forest" than the "trees"...so holding any given investment for 14 months prior to a flip is certainly no guarantee of receiving long-term capital gains treatment.I hope this helps.  

You'll still need to personally guarantee the loan and you as the borrower will be evaluated, but the property will be titled to your LLC. many people do exactly what you mentioned and form the LLC right before starting the process, so there's no issue there.