I am a real estate wholesaler operating for the past 4 years in the DFW Metroplex and I found that it's better to keep things simple, and not, deal with real estate agents who don't want you biting off (what they view as) their profits.

You mentioned that you're not interested in grants or fundraising, I'm curious what type of operating budget and actual program you have in mind.

If things work out with this 2nd company, and I have one operating rental in place of two empty lots in North Port, I'll be happy(ish). ya I built 3 up in the Ocala area took way longer but they got done and we did make a very small profit on them but I count that as being very fortunate.

While I don't have any horror stories, per se, I have heard of people having a tenant for a year then causing $20k in damages upon move out, while skipping town to not be found again (this was a CA buyer buying from a turnkey operator in AL).  

Depends on what kind of property you are operating.

., if I’m dealing with someone in, say, Chicago or Austin, I know precisely which local operators are closing quickly and which boutique lenders are staying nimble.

Moving to a portfolio model—where a pod (1 PM + 2 VAs) manages all aspects of 200+ units—streamlined operations and improved accountability.

I own, manage, and operate out of the Des Moines, Iowa metropolitan area.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

WikipediaPro-business environment: Companies are reluctant to set up operations in cities with burdensome regulations that hinder profitable operations.