Some of the ideas I have are the following:Ask for references of others he has partnered with.Be clear of expectations as this will be a side-hustle - I have a solid primary jobEstablish clear partnership agreement - equity/cash flow split, termination process, etc.Any other red-flags you guys suggest looking out for?

On the bidding site it has a link to the property appraiser site for the “lot”.......100sf“Northerly 1’ of lot xxx”An aerial showing the strip as a red line (the site shows lots perimeters in red)“land value $50”“No building”In addition the bidding site page tells you “to do a title search, no representations made....”There are also boxes you have to check off to enter the bid site telling you there are no guarantees, talk to an attorney, etc. 

I have heard that trying to get a 203k Loan can be a process, is it difficult to find a property that will qualify for it, or is it just more red tape to get through?

Then, I found out the situation, 2 brothers owned the apartments. one was the money man and the other ran the property from a far or tried to, property in the red, poorly managed, during the real estate crash, They had no day-to-day operator.

You will find all the major players in the business prefer to do it this way. 

@Yu Chen it's usually a red flag and they are trying to "bribe" their way in to your property.

I wish someone handed me that when I was 17 (and that I would have been smart enough to read it).Go to all the real estate meetups that you can and meet some of the local players.

AFLAC is the big player in that market.You may want to explore any Professional Associations, non-profits, or Alumni Associations that you belong to to see if they have any group disability programs available.  

I put the labels on the jacket of the dvds and leave them on the blu-ray player. 

If you find high vacancy, that is another red flag for the market and you should be cautious.