They probably won't have much good to say, and then you'd feel like you've made the wrong choice even though the vacuum you purchased is good for the job.My alternative suggestion would be to talk to local building regulators / inspectors, and see if the roof replacement would need a permit, and an inspection.

If you "don't have the knowledge or the financing to take on this project" I would say your only choice is to pass on it unless you know some investors in the area who you might be able to partner with.

Glad to hear that you and your friend are making the choice to get started. 

I'm no plaster expert but If I was guessing the choice will be between taking the walls down and hanging drywall, or maybe skimming over the plaster after removing the fabric covering.

Would be my first choice, because it allows you to grow your portfolio without involving Partners and easier entry....GL!

Hey everyone, I'm super new to the REI world, I'm a licensed RE Broker though and am now trying to make the transition. I've used Boomtown for my RE business but now need to decide if implementing my Investment busine...

If you are wanting something longer term, then an LLC might be a better choice.    

You can do this through networking, finding properties that you like and send out letters or calling the owners, etc.I know it may not be immediate satisfaction, but given your (and my) situation we don't have much of a choice if we want to be savvy investors and deals are not readily available. 

It's not even a choice.  

Your "empire" can be much larger than his and you have the choice of who maintains it.