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. 

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 you are happy with an annual lease, that should be a pretty safe bet in most places, but if you're talking about short-term rentals, make sure you're somewhere between Kissimmee and Davenport in a neighborhood that permits it.

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. 

We've had good appreciation in Raleigh so it's a very active market.

It is very competitive in that arena but I am actively looking for deals for a handful of investors.

You must have legitimate self-employment activity or own a business without full time employees in order to be eligible for Solo 401k.