It is so much easier to check on contractors and progress of rehabs when they are close.

As far as key factors to consider outside of location I would recommend 1.

@Anna StrausbaughThis is so cool!

The reason they offer training is so that you will know what to do to buy low and sell high for maximum gain.

As far as people losing money.  

the one thats successful is so successful it makes up for the failure of the other nine. so if you invest in 5 venture deals and they all lose money, its not fraud, incompetence on the part of the advisor, or even bad luck.  

I used a lot of information from BP, and even went as far as reading the new CA ADU bill, speaking with the congressman associated with it, educating both my architect AND the city on the new guidelines. 

Quote from @Kay March: As far as I know, you can't reverse a check.

I told him that I would want an inspection and he looked at me like I had three heads and responded with "the property is sold AS IS so you won't need an inspection.

The math with 1% is so easy though that you can do it in your head and that is why people like and use it.