Just think of what this business would look like if EVERYONE that started in the business is in it and active!

The offer sounds tempting since  the group has to finance about 3M$ (the rest comes from a bank with a low interest) and the building is bought about 1.5M below value, so when we sell we should expect a 50% return when selling which should be 3 years from now.The thing that bugs me is the way the building value was evaluated, i am copying a section from the presentation:"Market activity has shown similar properties consistently trading in the 4.75-5.25% cap range (refer to “Comparables” slide for specifics).

Doesn't seem to be much activity. 

There are tons of active investors and real estate professionals to network with.

Once you build up you find more people to help and you can start to move up in value.IMO the best way to meet people is to be active in something, volunteer fire, Legion, Elks etc.

Most leases have something about illegal activity being grounds for eviction.

Yes investors are actively purchasing but in my opinion it is good for the district's economy.  

Then just move on.What I have learned is you have to be pro-active with the contractors otherwise they will take advantage.

Some of my favorite metrics are % return on money invested. 

I am fairly active still and make it out to the area at least 6 times/year, but I am buying distressed assets.