Metal building will likely be more to build but with lumber prices the way they are right now it’s probably fairly comparable.

The prices seem fair and I have read good things about him.

It's fairly simple but a closing attorney would need to help you through it. 

I am looking for my first investment here, and am not willing to make any purchases sight unseen.The property has been vacant for roughly a year, which leads me to believe there are some significant rehab costs and/or liens on the property (is this fair to say?) 

While the area is still fairly heavily dependent on the auto industry (Chrysler, Delphi & GM are three major employers), there has been a lot of growth and development in the downtown area.

Here's my situation:1) Looking in the Providence Rhode Island area, and surrounding communities (Pawtucket, East Providence, Warwick, Cranston, etc)2) I'm fairly busy with my business, so need assistance with finding properties (on or off the MLS)3) Prefer properties that are fairly turn key (again, because I'm busy) but willing to take on rehabs for the right deal.

If the company stays solid, I see it being fairly low risk for the next 10 years.

If you own properties in a partnership, it is fairly common to do quarterly distributions, not monthly distributions.

Just this week I had a client convert a flip into a rental after it sat on the Oakland market for over a month at a price that would have yielded fairly low profit, and this is someone with a track record of successful flips in years past.So I guess this is neutral-to-good news if you're doing buy-and-hold and finding a way not to compete with the owner occupants bidding based on emotional appeal inspired by a reality TV show, but bad news if you're trying to be the next HGTV rockstar flipper paying MLS prices. 

The only reason I keep the Arena property is its one of the nicest rentals in town and it's fairly new.