@Benjamin Greiner just commented on another post about a tenant threatening to sue over mold issues - that tenant neglect caused.We told the landlord their lease should have had provisions in it to hold the tenant accountable for the damages.Standard leases only cover the basics, so you should Google all the leases you can for ideas to take to an attorney to include.

Having cash reserves is always a good idea going into a purchase as well.

Currently considering Hospitable and Breezeway and am open to other ideas. 

Post the city your property/idea are in and network here on who we use on the local market4.

While standard advice for USA investors is to create and use an LLC, it could be a very bad idea.

I’ll wait.Protect your downside, watch your 6, trust but verify, invert always invert, avoiding stupidity is easier than seeking brilliance, avoid crazy at all costs… all reiterate the same basic idea.

But of course, you want to get a pretty good idea of the strategy from others that have been successful. 

Focus on figuring out how to make deals in today's environment.Your idea does not work anyway.

I would stay far away from cash, that is just a bad idea.

Have them walk current or finished projects to get an idea of what they might charge for future projects.