I take a picture of their driver's license.I ask for phone numbers that accept texts and any alternate land or business phone numbers.I ask for the names and birth dates of anyone under 18, and ask if there are any service / emotional support animals, together with their names and breeds.I also ask for personal references, previous landlord contact info (and length of time there), employer contact info (and how long there, together with earnings), as well as the name and contact information for their manager / boss.

It will take time.3) Property management companies, chamber of commerce meetings, local commercial RE brokers, etc are all additional options to network and find people who do deals.

I am looking to connect with the investors there as the promotors are continuing to take Asset Management fees to the tune of $450K a year (on top of PM fees) even when their payout to the investors is around $20K a quarter (not meeting preferred) and the overall fund is negative about $450K.

There are some types of trusts that bring a lot of protection, but you generally lose control of your assets and they are managed by someone else. 

Instead of a co-host can you just get a property manager that specializes in it?

I used to help manage 30+ STRs in the city with a McSwain Management.

Doing real estate and managing other peoples money from a fund are two very distinct skillsets.

The utility company doesn't manage your property...they provide paid services until they're not paid anymore. 

Cash flow depends on the down payment, but using a HELOC could keep your cash reserves intact while you get started.Make sure to build a reliable team (property managers, agents, etc.) to help you manage the property while working full-time. 

So I am assuming you were the lender on these properties and they did not manage them well and they went into foreclosure.