They are acting as an agent without the laws, ethics requirements, education, and insurance that are vital IMO. 

Every commercial investment will be held in an LLC or equivalent corporate entity (usually multi-layered LLCs - holding shells owned by parent companies), but the banks will still require your personal guarantee on the loan docs.

If you have co-owners/co-investors, then getting your LLC (or entity) structured properly is vital.

Again, finding a good team who has experience working with new guys is vital.

Older homes tend to be like onions, you peel one layer back just to find another layer of problems. 

This allows you to focus on what’s vital to you, whatever that may be (work, business, charity organizations, time freedom, family time, travel, helping others, etc…), while living the Cash-Flow Life!

With the roof it depends on if you are doing just  a new layer or ripping it all of down to the decking, what has to be moved around on the roof or off of it to do the work,etc. 

In addition, if you have any considerable assets, you need to protect them not only with insurance but with another layer of protection via the entity.The S Corp (generally speaking, not always) is a good entity to flip from.

Lastly I would recommend focusing on repairing your credit at it is a vital tool in obtaining leverage.

that sounds like class lawsuit layer-talk.