You can contact some local property managers and get a better idea of the rental market.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Are you looking to invest in the Joliet market?

I've had smooth loans close with Kiavi and I've had rough ones, same with Roc.When Loans start to be troublesome:1) The borrowing entity docs are a mess2) The appraisal numbers are lower than expected3) Messy background reports4) Loans happening in an environment where market/rate fluctuating unpredictably 5) Your loan officer and their team are poor at their job6) Title issues that depend on county docs, that can be slow and painfulThere's more but it's Friday and I'm tired....

Nothing is foolproof of course, but having another investor in your market make a suggestion at least gets us on the right foot. 

I think there will be a market for it and you will gain some market share, but I don't think there will be tons of profits coming in.

Submitting a form D to the SEC is negligible and then each state someone is in that invests you must file a form d in that state as well which can bea  few bucks to a few hundred bucks.Where you will incur the greatest cost is raising the actual capital and marketing etc. 

@Caryn Fischer You can sell your house to your child below fair market value (FMV), but the difference is treated as a gift.

I’m looking to start in DFW since I live in Arlington but eventually I’ll be open to other markets to diversify my portfolio.  

Did anyone have any success obtaining a NOO HELOC under LLC recently now that the market is better for the lenders?