I would also encourage you to get involved in networking groups in the Chicagoland area as well as listen to the straight up Chicago investor podcast.

Quote from @Elimar Rios Guzman: Hello BiggerPockets Community,My name is Elimar Guzman, and I'm excited to be a part of this thriving network of real estate enthusiasts and professionals! 

Next is to start building a strong network of local contractors, property managers, agents, lenders, and attorneys—they’re key to keeping things moving smoothly.

BP is a great place to learn and connect with fellow investors.If you’re looking to invest in your backyard, it helps to network with as many locals in the industry as you can.

Quote from @Michael Smythe: @Steve K.Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Find off-market deals, run conservative numbers, stick to one market first, network with local REI groups, and stay patient.

Whenever I speak to a group of students interested in real estate, I always stress the importance of networking and simply asking people to coffee.

Full disclosure - a lot of it comes down to being willing to go out and network at different events.

@Hector Espinosa While cap rates can vary widely from one market/city to another and from one type and class of property to another (and based on the quality of the tenant), I did a quick search on LoopNet for MF properties currently for sale in SD and most "asking prices" suggest cap rates in the 4%-5% range.

I'm not a home inspector, but I point out many items to the buyer, so the buyer enters into the purchase agreement with eyes wide open before spending money on a home inspector.