Due diligence for land use is not much different than due diligence for REI... you have to understand constraints, opportunities, and know who to talk to.I would consider myself (and many other architects) the right first step as to what your current/future options are.

These units are rare to pop up (I stay in one of the units each Summer) and usually are gone in a week....so I know the opportunity is 'there'.The goal is to relocate in 4-6 years and use this as a primary residence (but still travel and use as a vacation rental).I'm confident w/ the rental history of these units and comfortable with cash flow (hate having to initially throw down so much $$......but HI has their 'rules').

Is there any way I can start to distinguish good opportunities from bad ones so I can go into a conversation with at least some knowledge?

But overrall it went smoothly so it remains to be seen whether they'll stay come April or if there is any fallout from the neighborhood.But thanks to everyone here i was prepared to have that conversation when the opportunity arose.

I am currently looking for another fix and flip opportunity between my full time management job and training for my first ultra marathon! 

I see becoming an Agent as a sacrifice of time, energy, and money but in return I get all of the opportunities that come with holding the license. 

Both times I would not have been able to afford to invest in the opportunity myslef, so partners were the only way I could get into the game.

To me, this segment of the corporate rental market is under-served and my thoughts are to use this as an opportunity to provide an accommodation that would be considered “high-end” or “luxurious.”

Here’s a deal in WACO that i want to place an offer:CLASS - C/C+Units - 14 + duplex = 16Mix - 2 BED 1 Bath Rents = 575 averageCap rate 9.2 % actual (Or So they say)Previous owners bought it for $545k List price = $680KAll bills paid communityTotal operating expenses -$55kNOI = $62KCash flow is around $2.4K / month100% occupied with rent roll6mins from a a good university Numbers check out on paper, value add opportunity is also there.

So I have a really interesting opportunity and I’m not sure if it would be smart to take it.