I see a little bit of a red flag in the fact that his students are closing so many deals in Texas right now - in such a tight market...

The only slight red flag was that they only accepted payment via Venmo or wire transfer, but that's how I accepted payment when I was selling lead bundles, so I still thought it was worth a shot.

Mark Dorsey,The 11 unit deal unfortunately fell through due to seller not cooperation, now back to square one.

Vetting Potential PartnersOnce I find a potential partner, what are some key questions I should ask or red flags I should look out for when vetting them?

A good place to start figuring out profit/cash flow is to search the forums for the 4 Square Analysis. 

Ditch the red rug, increase art and add dresser, bedside tables to bedrooms.

Currently there is that extremely thin, hard, cheap landlord carpeting (and also an area with cheap thin stick on hard tile squares). 

It is RS-50 zone requireMinimum Lot Size: 5,000 square feet.Minimum Lot Width: 50 feet.Setback Requirements:Front Yard: Minimum of 20 feet.Side Yard: Minimum of 7 feet on each side.Rear Yard: Minimum of 20 feet.Maximum Building Height: 35 feet.Permitted Uses: Primarily single-family detached dwellings.To have different lot size need neighborhood approval, I believe...  

A lot of the time, most of the other students don't know what they are doing and they or Pace have never truly shared how much they have made on a property, so that alone is a red flag.

If you conclude the leverage is so good that everyone comes out ahead that's fine but if you are only able to originate hard money debt that may be viewed as a red flag by investors who will question your experience and borrowing strength.