Sellers rarely mind the low deposit and extended closing period due to the nature of the property, or at least they can be made aware of the fact that their lot has issues that will take MY time and MY money to solve and then they come around.My terms on the flip are: Minimum 10K spread between purchase and flip value.  1-2K deposit upfront to hold the property for 7 days then the deposit becomes non-refundable after the 7th day and the buyer has the same amount of time that I originally negotiated with seller typically 8-12 months(its a purchase contract but because of contingencies its essentially an option).  

It's not just shorter-term downturns to be aware of, real estate just like the stock market can experience 10 year periods of no growth. https://fred.stlouisfed.org/series/csushpinsa

I am aware of Crexi, Bizbuysell, and Loopnet and reach out when I see something for sale on those sites.

Most banks will do a 25 year amort but only a 10 year term, which means you either have to sell or refinance the property at the end of the term.Also be aware of prepayment penalties. 

A 7.0 releases some 32 times the amount of energy as the atomic bomb used on Hiroshima. https://www.omnicalculator.com/other/earthquakeI am fully aware and well versed. 

I was not aware of this law that will be in place soon.

As you seem to be aware, class C is risky.

some things to things to be aware of;My father and I have found the deal and will be completing 90% of the rehab.The friend has lots of capital and is able to provide large sums of cash if needed.

On the other hand, I am aware of a few students who thought they would start out small and work their way up, but realized that their first deal could very well be a 60+ unit apartment complex.

As far as I'm aware most credit unions will only lend on properties in their area of operation so not sure it makes sense to join one in a different state.