A good CROI is between 5 - 15%, above 15% may need to do a little more digging into the financials or check your numbers, below 5% walk away.Hopefully that helps you determine future value of Commercial Properties you intend to buy.Sincerely,Joshua Rottenbacher

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Also, if this is West Side/Hilltop/Westgate (aka "Heroin Alley"), you should probably walk away. 

In public, as long as I'm walking around, he's fine.  

Buy a home in the right neighborhood and you can sell it at any time and walk away.

It's best to see if you can find someone in Texas to see the house, do a walk-through and look at the repairs and figure out your cost of repairs. 

Being cautious is a good thing, but if @Michael DeFrancesco is walking away from good deals because he's worried about the possibility of a bubble, I think that's a mistake.

Walk through together to make sure.Always get backup contractors because they get sick, die, leave you etc.Make sure contractor has his name or company on the permitCheck real estate commission for licenses of realtorsCheck secretary of state to make sure contractor is licensedIf you have mold, asbestos, radon make sure the contractor is certified to remove it.General contractors do not like to work with subs that they do not chooseProject manager can not have too much going on or else they will neglect youMake sure you get the general contractor sign over a document regarding he will be responsible for paying subs because you do not want his subs to turn around and sue you because they say he did not pay themGet the names and phone numbers of all subsRecord all phone calls. 

What would the attorney say to help me walk out?  

Make sure its safe throughout the property (walking space, handrails etc) and have insurance in place.