Permitting in Cape Coral is part of the problem but when a company does not even try to contact you during the process it's a red flag.

I'm a REI newbie, but just from a personal finance point of view $500k income + "Wouldn't mind becoming a millionaire from this as well...." is a red flag.

Smoking cigarettes is also quite legal, and also prohibited under the lease.I think your argument on unit count is a red herring here. 

The ones who bought cheaper properties trying to fix up had mixed results with one getting hustled by a contractor and definitely going into the red.

Red Stick REI and The RING are the two big ones in the BR area.

Red flags all the way around. 

or perhaps a reverse build to suit where the data center operator controls the buildout and the planning etc.I've not been involved in a data center first hand but the central OH market is pretty data and warehouse heavy as far as developments go and to echo the posts here, the power requirements are wild, and the red tape to get that power to the site is often cumbersome. 

I think most hosts give 5 stars unless there is a serious issue so even a 4 star is a red flag for me that I would check into. 

It would be a big red flag to me if they are doing a lot of volume in this market. https://www.biggerpockets.com/member-blogs/10145/83067-limited-partner-s-guide-to-investing-in-the-right-deal

Just the other day I saw someone had used black sheet rock screws in the hangers on a brand new deck (non-permitted obviously, and not a single lag or any flashing on the ledger board, and they painted it immediately before the pressure treated lumber had even dried out so that’s going to peal in the first year, at about the same time that those sheetrock screws start to rust lol).