There's obviously quite a bit of diligence that comes after such as who the key principles are and their credentials/track record (both balance sheet and experience), the underlying real estate and thesis behind the investment & tax prep and audit procedures but as a general rule of thumb if the investor can't get past the first part which is understanding what they are investing in, passive investing is probably not for that individual. 

Events like this give the opportunity to meet and talk to investors from all over the country, doing different kind of investing, and with a varied amount of experience.

Ask how many units they manage and how much experience they have.

Just be aware that there is an experience requirement for these, as well as reserves requirement (6 months PITI). 

I believe this law presents a great opportunity—not only as a sustainable business model but also as a way to help people in need.However, I have no experience in real estate or foreclosure auctions.

You save money, you get experience, and then you buy your own in a year.

Make sure the lender you choose has a strong background in this type of lending...check them out on Linked In to see their experience level.

Of course your individual experience may vary and maybe you have a marketing and sales background so it is a good fit.

In my personal experiences a lot of structural items start with bad drainage.

They cover all appliances, flooring, all those use components that can and will experience wear and tear.