Decide for yourself first how active or passive you want to be.

I use the LLC for active businesses to separate one business from the other, not to cover myself personally for liability.

Reach out to everyone in the area and see if they can put you in touch with some active investors who might share their favorite contractor with you.

So essentially I formed a partnership with the private equity investor, and as long as we can prove that he has some activity in the business, he can invest as much money as he wants with me. 

Many of the condo associations have rental restrictions.I stay away from condos in general for a variety of reasons.Cash flow volatility, rehab/rental restrictions, special assessments, etc.

That said, unless you are active in that market, very familiar with the business owner and expect to have your initial investment returned in 12-18 months I wouldn’t touch it.

I also see this as an opportunity to learn more about real estate in preparation for future investments.About me: 40 y.o. single O-4P, with probably 4-14 more years of active duty before retirement.

If there was an active property manager that person or company  should also be named as a party in the lawsuit. 

On the micro scale, especially this time of year, add in school access/assignment, subdivision 'dynamics' (when I was more active in Wake, I tracked NOO/OO ratios and out-of-state investors as a metric, including hedge fund buying) inculding crime, HOA behavior, proximity to employment centers, etc. 

If you don't get any hits on previous sales, check the assessed value as well.