Do you have a university in mind?

But you'd likely have to overcome the objection of why they should let you in on the equity site and not just let you live onsite and perform those functions as a job...Time is money... and if you don't have money you should have the time.

I don't see any major issues with your strategy, but flipping is always a risk, and you should always have multiple exit strategies in mind. 

and as one ages like a fine wine you figure out that equity is your friend and limit your debt when you can … granted mathematically everyone should do 100% financing and never have an ounce of equity tied up.. but that's just mathematically.. in a down turn like what seems to be running through everyones minds these days because there are a few headline grabbing articles that scare people.. we then start to talk about what to do and how to be positioned...

A seller could misrepresent a property, repair issues could arise, all of the same reasons an investor could change their mind on a purchase that are discussed here at length can apply to a wholesale deal. 

I try to keep in mind it's a marathon, not a sprint.

I finally got an older guy call back who saw it 2 weeks ago and he says I can't get that apartment out of my mind and is it still available, signed the lease yesterday with the occupancy date I wanted so its all good.    

Can someone please give me a good list of question to keep in mind when im trying to find a good real estate investment property to buy?

Whether you owe 50% or 100% on a property makes no difference if you can not afford the payments.Also keep in mind when you have excessive equity in a property and the markets turn it is your own cash that is at risk not the banks money.

Not sure what your payback will be if you rehab, but if tenants come and go, I bet they will be content with clean, functional and fresh paint in a light color.