The biggest thing I'd recommend is to make sure the numbers look good and don't over-reach on your first deal.

Sounds like deal flow will be the biggest challenge.

According to RealtyTrac, flipping nationwide is back to 2006 levels (see video link below).According to the RealtyTrac:Top Markets for Flips:  Memphis (#1), Tampa, Miami, Las Vegas, Phoenix, Orlando, Biggest Flipping Profits:  Cleveland, Pittsburgh, Philadelphia, Baltimore, New Orleans.House Flipping Returns In Force (RealtyTrac - CNBC)

Which can be your biggest return.Some people can afford negative cash flow some people can not.

My biggest strengths were throughout those years were Strategy and Data analytics.

The biggest disaster remember watching was a group of friends that walked away from a project due to lead paint issues and not enough money to deal with it.

Biggest problem I see right off the bat is the payback.

What arose from my conversations with him really is identifying that the biggest challenge is making sure that the money legally may be wired to the United States.  

The biggest issue is a racist neighbor who is harassing my tenant and PM.

The biggest challenge in that market is that there's a huge housing shortage so you're looking for ROI while someone else is willing to pay an "emotional premium".