They must understand the qualifications, knowledge level, and ability of potential Equity Partners' ability to make investment decisions.

For example the homes must be livable and you can only sale 1 per year without a license.

Secondly, you must have some discipline, which is essential for real estate investing.

I know that I must secure my financing before I begin to make offers, but there is a lot I am still unsure about.

Your contract should require insurance but more importantly they must provide an insurance certificate before you allow them to begin work, or sign the contract.

I'm planning my first visit next month.

@Markeshia Calimee, That great you're Oakland native, so you must know the market well.I love horror movies/stories, you can tell me all about it! 

Remember, there is a fiduciary responsibility involved, so you must be totally honest and make your disclosures. 

You need to visit your county planning office or website to learn more.

Downsides:  going through their qualification process takes a while and can be a bit of a pain and the property must remain owner-occupied for as long as you have the NACA loan.There are also some lenders doing zero down FHA loans.