Request a detailed list of documents and information from the seller, including financials, leases, contracts, capital expenditures, surveys, environmental reports, open permits, and the Certificate of Operations.2.Physical Property Due Diligence.

Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where I think we are in the real estate cycles (financial and physical market cycles)b) Then and only then do I pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

When I checked his physical address (that he provided), it was a vacant half-acre somewhere in the boonies in FL.

Not without the following details:1. tax residency, and location of the physical asset for nexus allocation calcs2. personal tax filling status3.

They do not however have the knowledge, credit score, or physical ability anymore to fix or get into real estate.

The landlord can only deduct for actual damages, which can be physical damage to the property or lost rent.

I relieve the contractor wallet and he just need to track his labor part. 

I guess it physically can, but what will it lead to?

And the market conditions are unwelcoming (physically distressed inventory, difficulties with Ogden City, and poor tenant pool). 

If you don't have appropriate funds to enter a physical asset-- meaning physical risks, humans to manage, etc., then it's best to wait until you do or invest in a REIT.You're just not fit...right now.