We are planning to hold it for 5 years and bought a rate cap to cover the entire hold period. 

I would plan for having to put 20%+ down for most deals. 

You need to work with a property manager that has experience with this, unless you plan on doing it yourself.

If you plan to invest in Vegas, phoenix or any of the same kind of markets you really need to ignore the general examples given for maintenance, capex and such.

It's possible to buy property in Germany with as little as 5-10% down, making it an attractive option for service members and civilian government employees stationed there or planning to settle.

We just acquired an existing duplex in Fort Lauderdale and planning on tearing it down and build a new duplex instead.

If your planning on listening to keyboard warriors on here to explain the process, you're gonna get a lot of bad info...some good, but some bad.

Beg family and friends to fund it for you.They "might" do it if they see you've learned a lot and your business plan sounds very solid.How do I know this "might" work?

@Matt Smith - as @Christopher S. mentioned you cannot use an ADU unit in Chicago as an AirBNB as the city's intent with the program is to provide additional affordable housing. 

Every job I see requires 3+ years of experience and knowledge of multiple different programs.