Your statement raises concerns about code violations and triggers 'red flags' for me.

As far as pulling the trigger!

Here's how he has it structured:- he finds the deals (key here, your strong asset)- he has a rehab team on the ready that he works with- he is active in local REI Clubs (yes a nice source of leads for you)- he is also hosting free 1 night seminar per week that caters to this topic- he then has investors on the ready to pull the trigger when a deal is found- he has set terms already, 90 day velocity, x% return on invested funds.

Did you get a lawyer lined ho for legal issues, and broker, real estate agent, ect team lined up before pulling trigger?

We've looked at a couple of different rehab projects there but haven't pulled the trigger yet.  

This is an amazing group of people, and I look forward to connecting with other investors here.My story: Back in October, I was on the couch recovering from a cycling injury and a divorce settlement, trying to figure out how I would afford the life that I want for my future family.

It has 500K coverage for each occurrence, 500K for personal injury and advertising injury, and 1MM general aggregate.

But about 6 months before you buy, I would seriously consider getting your real estate license so you are able to pull your own comps on the MLS for the property you decide to pull the trigger on.

Any modifications or improvements costing over 50% of the building assessed value triggers sprinkler rules..Also, and modifications within certain categories of work triggers the rules as well...such as upgrading a heating system MAY trigger the rules.It has become so bad many towns are putting the same rules on 3 unit buildings. 

Unfortunately they financed their education with debt that can't be discharged even in a bankruptcy and many if not most can't find full time work in their chosen fields.Plus to add insult to injury, what ever they do manage to save for a down payment earns zip thanks to the Fed's ZIRP (that the Fed find themselves trapped in).