Be vocal and intentional with your conversations.

In the meantime they can cross shop and buy items they need or want in the store.

Can anyone please share some insight as to some specific items to look out for in hard money loan agreements and insurance policies for a fix and flip?

Condo conversions are very tricky and you need to make sure your plans, specs, approvals and money are all in place before you proceed. 

Garage Conversion.

Cost segregation combined with bonus depreciation is huge.A lot easier to 1031 one 100 unit property than 100 individual houses.Apartment rehab often stays below the $2500 de minimis safe harbor per item (because apartment communities don't pay retail) - which means immediate deduction and no future depreciation recapture (i.e. an HVAC replacement may only cost $2400).Some apartment rehab above $2500 per item can be immediately deducted if it does not meet the 20% "unit of property" rules (i.e. replace one HVAC system in a ten unit building).

As with most locations, it is likely seasonal so be prepared that it could be vacant during off-season, or at least your rates will be a lot less.Start with this expense/asset items and analysis. 

Part of conversation was discussing the importance of relationships and how the human element of this business leads us to mistakes.

How does that helo you or help us or  help move the conversation forward? 

Most other items are negotiable but on most SFR, the tenants typically pay all utilities.