Perhaps an equity relationship with a contractor can help you get a more experienced eye on the ground, while you handle financing and marketing/closing on the backend.

They are there for us to keep an eye on the property. 

I'm keeping my eyes peeled for anything really.

I think we've considered all of what you listed out but is so nice to have a second set of eyes on everything.Re: leasing - the units have new 12 month leases in place, we met the tenants and they check out.

I am currently getting pre-approvals with 2 different brokers and have several properties I am eyeing (both on and off market), ready to inspect and make an offer... 

And yes, I am keeping my eyes out for Meetups and REIAs. 

@Ibrahim YaminiThis is completely unrelated to real estate but I browse these forums often for more knowledge and this caught my eye.

Usually when you take over a property, you have to catch up any outstanding balances from mortgages, taxes, construction, utility or any other lien.

. - Review the restrictions yourself first and catch any basic issues.

So typically there's a couple of things that need to be met to build in a flood zone, but first and foremost, you NEED to contact the local jurisdiction to see if the exact location can be built on and you need to confirm their conclusions based on looking at their ordinances (city if it is incorporated or county if it is unincorporated, in most cases; some places the state-level).