You do need to be very careful as the to the 135 Corporation you purchase. In addition to your normal acquisition research from a business point of view you will need to verify FAA items, such as what type of operation are you purchasing, is it currently operating, will management continue if sold, are you intending on changing FSDOs, have YOU gone through all of their records and manuals and verified them to be in compliance, enforcement actions against the company, accidents/incidents, VDRP history etc...

Once you find a company that you are seriously considering purchasing and have an LOI in place then you should setup a meeting with the Inspectors prior to closing.