But what components makes a deal “good”.

I'm waiting to define my specific criteria until I get to know this area a bit better, but I will definitely be using a PM.I'll be spending the next couple months getting to know the area and hopefully going to some REI meet ups and making some contacts.

You can define those letters as meaning whatever you wish, and assign them as you wish, as a private citizen who does not have any special license. 

Does your TSP already have a Roth component or is it completely tax deferred?

I made the mistake of not having a clearly defined SOW and ended up having to do a lot of the work on my own staying up for over 24 hours in order to get the jobs done before a flight back homeAlong with that get the required jobs done first like lock replacements, lockboxes, fixing things that are broken before making updates that are cosmetic.

@Russell Buxton Clearly defined roles, and if/how compensation will work for thoseHow money will be distributed and whenHow much needs to stay in reservesHow/when to exit, both decision to sell outright or when 1 partner wants outFor management, as was mentioned, who makes what decisions, and what threshold the other partners needs to be involved

I would be interested to know what you expect the place to rent for that is what will define how good a deal it is. 

Define your goals and objectives and then build a plan around that.

The developer on a new property has not made hardly any cash flow on the property and likely has to pay short term capital gains, legal fees, real estate commissions on the sale of the property.Usually a seller will not give you a lease until you have been vetted as a credible buyer and at the least have a signed LOI with a confidentiality component.

it wasn't clear (or maybe I missed it)A few tips:PUT DOWN THE BOOKS AND NETWORKNetworking and finding mentors are the two LARGEST components of success.Build a team - Make sure you have the infrastructure to be successful i.e.