In this business, taking advantage of great opportunities is critical to an investor's success.

The critical consideration in these markets will be to find zip codes where the population is growing, because zip codes in which the population is declining will result in declining values over time and perhaps declining rents as well.I've always liked Albany as a market, though I have not invested there because there is very limited product in the larger multifamily space.  

I know that this is a great way to become exposed to more ideas and options.Advice / criticism / comments most appreciated!

Avoiding a large volume of water getting down to that area in the first place is critical. 

They aren't going to leave any important or critical tasks to normal volunteers, and I doubt they will involve you in any financial details of the projects.

Getting an attorney queued up to review collateral for an expected purchase as well as selecting a servicer in advance of the purchase are critical prerequisites to have in place. 

Overall,  property management, self-management or with a property manager, is of critical importance. 

I agree, grassroots is critical to the overall plan. 

Speaking freely about one’s strategy with an agent is critical. 

If you're looking to go far in this biz execution of management (asset level and property level) is mission critical.