purchase price per door has a direct correlation on long term risk.you will never know on these assets how it works until you have owned them 3 to 5 years and have been through numerous turn overs.

@Marian Smith yes, my roofer used a rigid foam product that was pre-fabbed to produce the desired slope; you can search generically for "tapered roofing insulation" and should find suppliers in your area.  

find a small local kitchen cabinet supplier that only supplies cabinets or go to a local lumber yard and ask where apartments complex owners are buying the cabinets. 

What's crazy is that there a numerous "second homes" in this project where the owners obviously have offsite mailing addresses (Monterey, CA). 

I've emailed about it numerous times and they say their IT guys are aware and working on it, but I haven't seen it get much better in quite some time.

It's hard and inefficient to build teams in numerous markets.

It will minimize a chance that you would lose money on this deal and/or ruin your friendship.Here is an incomplete list of what you will need, and most of that requires an attorney's help:write a strong operational agreement for your LLC, covering numerous what-ifstransfer the ownership to the LLC, either with a deed or with one of the alternative methodsconvert the responsibility for the loan from him to jointarrange that your insurance will accommodate the ownership changeestablish operating procedures, including resolving decision deadlocksset up a solid bookkeeping systemI cannot tell how experienced you guys are with flipping, but a warning is due: over 95% of first-time flips lose money.

You said in OP "If I transfer departments at my place of employment I shouldn't have a problem living anywhere in the continental U.S" Does that mean you can work from home or it means there are numerous offices open to which you could transfer?

Wayne- I bought numerous of properties in Florida and still do.

I have looked at numerous deals (cheap dirt) and going in cap is around 10 percent for new build.