Overall, your next actional step should be attending local REI meet-ups.

He’s not a pushy salesman, and I’ve got a business partner who has worked with him for the last 10 years without any issues.As for your situation, I wouldn’t say it sounds like a Ponzi scheme, but I’d strongly recommend meeting with the fund sponsor in person and asking as many questions as you can.

I only know a few local realtors/ property managers I’m going to meet with them this week to ask more questions. 

It got me thinking:In your opinion, what are the minimum requirements someone should meet before raising money from investors (beyond family and close friends)?

Looking for something with low acquisition cost, and meets or exceeds the 1% rule.  

Step into their shoes, listen to their concerns, and meet them where they’re at.

Sign up for local news articles, go to events in different areas, attend neighborhood association meetings, and just go out and have fun.

Quote from @Melissa Stanley: I’m hoping to purchase a few properties with a friend/business partner but after meeting with a lawyer am even more confused.

I was a guest at STRs for years, a quiet, early departing after tidying up guest and never got any sort of follow up after the check out thank you, no incentive to return.  

Look at the amenities offered by top-performing properties in your area and aim to meet or exceed their offerings.