There are some research you may want to consider -  are there an oil tank, any open violations and ect? 

It helped that the walls had an oil-based paint underneath.

i suspect oil from the surface lot has been accumulating in this basin.

2) Which member(s) have decision making responsibilities?

So far they roof is 10 years old, not missing any shingles or anything. looks good.Water heaters are 5 years old.Furnace is an oil furnance and is fairly new, replaced less then 10 years ago. 

They're not doing so hot, and many of the out of state investors come in breathing fire and run out in the middle of the night white as a sheet and in quivering fear someone will hear about the shaved Steel City orangutan they woke up next to.

You will find a ton of helpful resources, especially under the Education section of BP.My recommendation is to pick one niche in real estate and stick to it until you fully learn it and it is operating like a well oiled machine.

You will need to pay the annual registration, Registered Agent in those states and then file a tax return in Illinois as a Foreign Business Entity which pretty much blows away all the privacy and no taxes due in Nevada or wherever these folks use to sell their snake oil. 

@Don Van Nguyen I know that I am in the minority but with most oil and gas downturns, Houston will see a considerable contraction.

Does anyone here have experience investing in or putting together oil and natural gas exploration investments?