Note that if this goes well, I would want to continue making deals there.I don't think this is necessary in this day and age - plenty of direct lenders that can offer you good service and DSCR Loans for a wide variety of situations with competitive rates - easy to find here as well. 

There are some really good contractors who can help you - and there are some who smell inexperience a mile away and take advantage.  

Was overheated but things look like they've come down a bit recently and good opportunities might be back

Make sure you put together a good local team to help. 

Good luck

Good point by @Jacob St.

More than likely, we would be looking out of state where a good property manager would make the most sense.  

Any other suggestions for analyzing the quality of the offering and the group making the offering?

I don't think it is probably a good idea in most cases to borrow other people's money to go learn this niche.   

Good points here!