House hacking is a great way to get started.If you PM me, I'll send you my Chicago house hacking guide if you want it.

I also have a close connection with an experienced developer and is willing to help mentor/guide me through looking at homes and answering my questions.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..

They need to be your guide through the process.  

As typical the governmental authorities tripped all over themselves in coming up with this settlement.  

I recently devoured the book "How to Invest in Real Estate: The Ultimate Beginner's Guide" recently...which led me to discovering this community...which is leading me to thinking about my next chapter in life.

Start with BiggerPockets Ultimate Beginners Guide (free).

I wains say $110 per sqft would be a good off the hip don’t hold me to it number to guide yourself by if you have a very low end build.

Please DM me and I will help guide you on what works best.   

This answer will guide your next move.