This method involves you identifying homes in your preferred areas and physically knocking on doors to express your interest in buying.

After we build the structure, is there an general estimate of how much the property/house will appraise for when said and done?

Keep this in mind when structuring your deals to communicate to the seller how much cash they can expect in their pocket at closing. 

They are the classic bad syndication company that makes risky investments with bad financing structures.

What advice do you have for establishing a reliable local network when you’re not physically in the area?

During Florence we couldn't physically get on the island until a full week later.

How could I structure a deal that would sound acceptable....   

The heirs can choose to hold their shares and receive dividends or sell them.Passive: Allows investors to trade an actively managed real estate asset for a passive investment in an Operating Company that is typically run by an institutional asset management firm.Consistent Income: Operating Partnerships can issue dividends or distributions so that the investor has cash flow.Portfolio Diversification: Enables the investor to achieve diversification across geography, industry, tenant and asset class in an Operating Partnership structure.

You should work with a CPA or tax professional that can help you with structuring your business properly first. 

This could be structured as equity or a preferred return to your partners.5.