The market was increasing and we were able to find an off-market deal from some friends who held the property for over a year had no interest in fixing it up.

The GP or the deal doesn't pass the sniff test and the smaller less sophisticated investors won't conduct the same level of diligence2.

The other option would be going to local investor meetups and asking those who attend for good references. 

Would you be able to give for information.Some question I might ask: Can you get access to the land or is it surrounded by other people property?

If you want the deal to be "held" until February, yes.

the short answer is... the deal has to work based on all of the findings and factors. 

Think of a tool like FollowUpBoss, but for PMC's and MF professionals, instead of realtors.We wanted to create something that can aid a standard PM software, and help PMC's expand thier portfolio without having to onboard a bunch of agents, automating the entire leasing process.Do you think a tool like this is needed?

Purchase price: $200,000 Cash invested: $43,000 House with a separate one bedroom/one bathroom on the second level.

The questions I would ask - what is the interest rate? 

I would even reach out to some owners you may have worked with in the past and share how you're looking to buy your first rental and if they have any sound advice.