Talk to a realtor in the area, they will know the drill. 

I know real estate is a long term play but you never know when you'll need access to that capital.There are turnkey companies out there that handle the entire process for you from top to bottom so it makes for an extremely passive investment.

Here’s what I know so far:My father-in-law is offering to finance the property purchase, but I’m still clarifying whether that means 100% financing or if he expects a down payment.We haven't yet decided whether to purchase as individuals or through an LLC.I’m also in the process of discussing the specific terms with him (monthly payments, amortization, balloon payment, etc.).Could you share any advice or insights on what deal structure might work best in a scenario like this?

Let me know if you'd like to chat more!

An older gentleman from church is selling off his portfolio of SFH/MFH rentals in the Belleville, IL area and offered one to me as he knows I want to get into RE Investing.Purchase price is $50,000  for a 3 bed 1 bath and the current tenant is renting at $800/month.

I will be honest and let you know that your agent should be sending you personalized deal flow and providing numbers on why they think it's a great deal.

the investor may or may not seek to redeem the rights up to that point. i can't get them at this point.and who knows when the judge will approve the sale.now, of course, i regret not approaching the owner for the redemption rights prior to the sale being approved. 

I will not explain here but I can email the details, if you would like to know.

My clients once they come on board with us generally will flip 5 to 40 homes a year.. pretty hard to do more than about 3 or 4 a month but I have a client in KC that does at least 30 to 40 with me and I know he has another lender.. the difference with a company like ours that is a capital partner your paying a touch more for the service but once its going its ALL our money and then the partners work.

What are things you think a new investor should know when starting out in the area?