If you put landlording next to exercising, exercising might be more passive as an activity.

I'd love to utilize their expertise when assessing a property since they are local but I'm not sure what the general expectation is when I don't have a tangible property and I have not entered into contract to work with them yet.Some questions I have are: local regulations/permitting timeline, property's potential from their perspective, landscaping/amenities cost estimate (they also help facilitate this).

They appear to be very active in the industry.

Financing provided through this program is only available for properties located in Michigan or Florida.Available Product Type: SOFR 7/6 ARM, SOFR 10/6 ARMLoan Amount: $766,550 MaximumLTV: Purchase and No Cash Out Refinance - Maximum 99%Prepayment Penalty: NoneLoan Assumption: NoneEligible Properties: 1-unit dwellings, attached and detached condominiums, PUDsEscrow: An escrow account must be established for property taxes, and flood insurance, if requiredUnderwritingNo Private Mortgage InsuranceOccupancy – Primary residencesMinimum Credit Score - 700DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors)Student Loans – If in deferment, no qualifying payment requiredDown payment of 1% must be borrower’s own funds, while closing costs and prepaids may be gift fundsAttached condominiums require a 10% down paymentEligible Borrowers – Protect and serve heroes are defined as employees of public or private education institutions, employees of medical and healthcare organizations, all first responders, and active or former military personnel.Servicing: Retained

Although the Burnt Store areas are seeing somewhat sustainable demand for owner-occupied properties, we're currently still not seeing enough support for activities that would draw tourism into that area.

So while you may get several numbers for an individual, not all numbers will still be active for that person so the total accuracy rate will go down.

I'd love to utilize their expertise when assessing a property since they are local but I'm not sure what the general expectation is when I don't have a tangible property and I have not entered into contract to work with them yet.Some questions I have are: local regulations/permitting timeline, property's potential from their perspective, landscaping/amenities cost estimate (they also help facilitate this).

You'll have less cash flow on the 200k but the absolute equity build will be faster.I'll also say that I don't actively avoid cash flow.

Since you have no experience- network and find the most active fix and flip investors in Charlotte, Raleigh or Greensboro. 

I'm also in Chicago (like @Jonathan Klemm :), and am always looking to connect with more female RE investors, especially those who are actively doing, or aspiring to work on, fix & flips.