Once you've done the reasearch, presented and had shot down several deals by us "gray hairs" and have truly stumbled onto a "unpolished diamond" you'll know it.At that point you'll have the money, the skills and the aptitude to "walk the talk".

I host a group in Waltham and Worcester with a high percentage of seasoned investors, which is meeting next Tuesday, you are most welcome to attend:  https://www.biggerpockets.com/forums/521/topics/320373-black-diamond-worcester-ma-6-21-from-frenzy-to-formality

I also recommend @Justin Silverio 's quarterly meetup in Woburn and the Black Diamond meeting in Waltham that @Ann Bellamy is one of the partners.I also want to thank you for your service and wish you the best of luck!

Was this property a diamond in the rough, or are these kinds of deals common in your area?

There is the Boston Area REIA in Medford and the Black Diamond meeting in Waltham that are close to Boston.  

Those built 1910-1930 have the concrete block foundations that have kind of a diamond pattern on the outside of the blocks.

Black Diamond has one in Waltham and Shrewsbury and Justin Silverio's networking event is this Wednesday at Sam's Bistro in Reading from 6:30-9:30.  

There are lots of MA investors, and you can meet a bunch of them at our Black Diamond event tonight in Waltham, url in my signature, it is free.

For a flipper it makes sense to look for the diamond in the ton of coal.

You may set out mining for gold, but be flexible enough to capitalize on silver or diamonds if you happen to find them.