The first time it was a HUD REO and they didnt disclose it and I didnt do a test so it cost me nearly 40k to install a state of the art system that MDE had to approve. 

@Benjamin Gency  I would suggest attending all the REIA meetings you can.. most are having Virtual meetings now and will hopefully have in person meetings soon. 

I'm just getting started (virtually) and would love to ask a couple questions!

The sponsor's ability to discuss risks and articulate how they'll deliver outsized value relative to the risk taken is the art of raising capital and should not be accompanied by any statements that gloss over risk, which include comparisons to publicly-traded securities with hoards of scrutiny you aren't going to be able to afford to provide in your project. 

The software also gave me a 3D virtual tour option so I could get a feel for the final product. 

@Nicholas Ferraiuolo  Below is a link to virtual meet up for tomorrow evening:https://www.biggerpockets.com/forums/521/topics/842006-hit-houston-investment-team-houstons-inner-loop-bp-meet-up

It was done virtually without physically viewing the property.

Standard College Rental- Cash out refi with a 30 year fixed, get 70% of my money back (possibly more as I'm buying it under market value) - Rent to local liberal arts college students for $1200/mo and (according to the rental calc) cash flow positive around $300/mo 2. 

I have some great friends that now own a "virtual" brokerage, which really cuts down on fees/meetings/requirements for office space etc". 

Everything is pretty up in the air right now though with cases spiking again so you might have to settle for virtual meetups and reaching out to investors through sites like BP.