I agree with @Shawn Mcenteer, attending local meet ups is a great way to meet investors like yourself whether new or experienced.

You can plan ahead now based on what to expect but this doesn't mean your outcome will turn out the same as your friend experienced.

If you take 7 months to flip a house, the ARV now and the ARV in 7 months can be drastically different (as we all have experienced with the house values skyrocketing pretty much overnight during COVID)Know Your Cost Of RepairsAgain, cost of wood suddenly skyrocketed.

Has anyone else experienced problems insuring a log home? 

I've never experienced this before.

Myself, I would like to invest in MHP or multifamily as a CO-GP ideally with an experienced investor.

Complement it with a solid lead provider, like virtual driving for dollars and you can balance the resources.4) JV with other wholesalers, brokerages or outsourcing firms.Together we are stronger, it's not only an inspirational quote, our clients have experienced that if you cooperate with other wholesalers or business relatives you can generate higher chances of putting deals together and generate steady flows of profit, at a higher level.

All in all I would say the biggest red flags that I'm not sure I could've anticipated without experiencing it for myself were the lack of commitment to the project, lack of project management skills, and lack of planning ahead/ anticipating lead-times of materials.

Has anyone experienced this management transition and can comment on any lessons learned/ mistakes to avoid?

As both an investor and local to Wilmington it is experiencing a lot of growth and I think there is still much more to come!