Pick an aspect of the flip and it went wrong: over schedule, over budget, manpower issues with contractors jumping off the job, design flaws, payment terms, forgot to fill the oil tank over the winter and ruined the radiators and downstairs flooring...

A therapist is a good place to work out flawed thinking put in your head by whoever raised you. 

It's silent to any registration requirements, but I've never heard of any requirement other than the NJ DCA green card filing for this type of property in JC.Let me know if you're able to uncover any other details...

Plenty of fun things to check out and opportunities to uncover!

Also the argument of taking on debt for tax purposes is flawed logic.

@Neil Schoepp There are lots of great reasons to live in the Triangle area of NC, most of which you have already uncovered.  

Once you get it under contract, then you can look to uncover some "hidden problems"  I would advise hiring an inspector, just like you would on a personal residence.If the seller is intentionally hiding an issue, there is not a lot you can do before hand, as even a good inspector can only do so much.  

Unfortunately, these opinions are often flawed, or just rants or attacks.

Essentially, this one IRS auditor uncovered a vast tax dodge where the grandparents were running several million dollars through shell corporations set up and owned by children and grand children, paying zero taxes along the way with deliberate obfuscations, magic hand waving and smoke.  

More factors than I can list here; your due diligence process will take at least a month and you will uncover more things as you go down the list.