You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

It's important to understand the zoning/code requirements and obtain all necessary permitting if you intend on operating your real estate as STR anywhere in the country.

The reason being they see no benefit and they do not understand it. 

Understanding of the investment: I "thought" I understand the simple business model AHP presented.

I understand that completing long distances BRRRRs is a different kind of animal, so I am hoping to glean insight from investors who have successfully gone down this path.

Hi @Jacob Dalton,Thanks for sharing your situation—it’s clear you’ve put a lot of thought into this decision, and I can understand why you’re concerned given the challenges of being a landlord in Cook County.Screening tenants is definitely a key step, but I agree it’s not foolproof.

I'm seeking to be in an environment with like minded individuals to learn and network to grow my portfolio and eventually network to collaborate on larger deals once I have a better understanding of the commercial side. 

Do I understand correctly that we are required to elect to be a qualified joint venture or to file a partnership return?

I do not understand what it is you are trying to do.

Drive around the neighborhoods to understand the lay of the land - if you have someone who will take you around and explain, better yet.