-If it were your money, would you seek out this deal or pass?

Consider investing locally either actively or passively before venturing out of state and having to trust someone who may not be what they claim or who is simply looking for a new investor they can take advantage of.

After speaking to him, I was informed that one of the family business accounts was closed due to suspicious activity.

I am on the board of a couple of REIAs and active in all of them. 

I will be providing financing for purchase and rehab of SFH while my partner will be actively finding the property and overseeing the rehab. 

I'm hoping to connect with individuals (or networks) from whom I can learn and hopefully provide some value of my own.What I've got to offer:1) I'm a proactive learner - I enjoy absorbing knowledge, asking questions, and challenging basic assumptions.2) I don't take myself too seriously and actively try to avoid being an *******.3) I have found decent white-collar success; I am the VP of Analytics at a digital marketing agency.

Flippers should use S Corp instead of an LLC as flipping is an active business.

Find the key players who are actively buying properties.

I'm an active investor and entrepreneur in the area.

Since you're starting out with limited knowledge of real estate investing, you should seek legal counsel (@Jerel Ehlert), or at a minimum a very knowledgeable real estate agent.