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I want to network with those investors who work on the business and not in the business.

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

If you are new, be sure you can raise the funds before proceeding.In my opinion, you are going to have a hard time raising money with a 6% pref and 70% of the profits after that unless you have a lot of newbie investors in your Rolodex. 

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I've worked with many investors in seller financed transactions and an experienced buyer agent would be extremely valuable to you.

@Vina Merrill,I don't have much intel on Knoxville, but I’m active as an investor, turnkey provider, and builder in Chattanooga.

Congratulations on the duplex -My investor clients have acquired several multi-family investment properties locally in the market I operate in Northwest Indiana - Figure out your personal investment objective for the next 4 years and align yourself with the next property that make sense in this current market environment-

Personally I wouldn't feel comfortable trying to wholesale a relatives $1M home knowing that I am breaking the law if I cross over into doing anything that can be considered representing them in the transaction, and knowing it will only be marketed to people who buy properties wholesale (typically investors who don't want to pay retail prices), instead of the majority of retail buyers active in the market who are typcially willing to pay more. 

I'm an investor and an agent in this area and if you ever want to chat about the market or investing, I'm happy to do so.