If it’s in a great part of town, these generally tend to not be the best from a cash flow perspective. 

@Obed Calixte The memories that bring me joy from a career perspective are the times when I've had the good fortune of delivering an above-projection return after a successful investment round trip. 

I am admittedly a newb in the process of getting all of this set up for my first rental (so correct me if I'm wrong) as well but I have some IL-specific perspective to offer: From what I have read, as of 1 Jan 2024 in IL, landlords cannot exclusively accept EFT payment of rents (includes Venmo, Zelle, etc.) for leases starting on or after that date.

Very different terms than what your friend is seeking but more aligned with what your friend can offer the transaction from an investor's perspective. 

From a landlord perspective, its great to be able to provide these simple services/amenities at no cost to us, yet empower the tenant to enroll in programs like this.

That’s a helpful perspective as I plan out my projects.Thanks again for sharing your insights!

You will certainly gets lots of different perspectives from the forums and most likely multiple people will have experienced a similar situation in their investing journey!

How would I start to go about finding perspective single-family homes that are current rentals or could be turned into rental properties? 

The insights shared by the Realtors, @Zeke Liston, @Jimmy Lieu, @Nathan Gesner, @Samuel Diouf, @Sam McCormack, @Min Zhang provide a solid foundation for anyone starting out in this industry.From a property management perspective, it's great to see you're considering the long-term rental strategy.

From an asset perspective we have around sixty assets which by this time next year we will probably be around 80-100 loans as we are always selling loans in our portfolio to pick up more.