Screening is the biggest component so spend a lot of time looking them over.

The biggest issue is that you have to define what you expect and then think clearly if those expectations are reasonable.

First, you need to clearly define on paper what you want to accomplish and the time frame to accomplish it.

Components of the systems should be like for example, interiors like: Floors, walls, ceilings, doors, etc. 

This would be defined in the LLC's operating agreement (which you should definitely have for multi-member LLCs). 

I think the value add component is pretty key as reasonably priced turnkey properties are quite scarce but deals can be more easily found on properties that need a little work or that can be repositioned.

Is there a flexibility component where you might want to move back to where you are now?

Obviously hire a good inspector and look at major components like the HVAC, roof, sewer line, and things like that. 

BTW "Substantial Completion" is defined as the project site (basement) being used for the purpose for which it was intended.

"Finding deals" is a broad term that needs to be defined first so that the data can be curated and presented in a way that makes sense for the person who is looking for those specific deals otherwise is like building a puzzle with missing pieces and pieces from other puzzles all combined.I started backwards, I knew exactly what data I needed, how, and where to find it so that i could quickly recognize missing pieces or pieces from other puzzles For my target deals.Imo the mayor problems in our industry is the lack of centralized data sources, the level of complexity on deals in each niche "sub-market" (i.e distressed properties can be segmentedo in short-sales,  auction, refi, wholesale etc) each needing a level of expertise.