Hi Ryan, I'm a licensed real estate broker in Illinois and also a property manager, and yes, in the state of Illinois, you need to be a licensed real estate broker (to be compliant) in order to manage property owned by others, because property management is considered a form of a real estate activity under Illinois law. 

Would love to see an example of some real life qualifying activities and what you're including.

I'm not sure if this forum is still active, but I'm looking to chat with a few real estate investors in Ontario who may be interested in raising funds by selling fractional shares of their property.My co-founder and I are doing some market research so we need to talk to some folks to gather more insights before building this out.If this interests you or someone you know, please reach out.

Also consider networking with investors active in those areas who can provide insight on what’s working.

There was even one exceptionally kind Bigger Pockets member that seemed to know a lot about health and physical activity that we even chatted on the phone afterwards and he gave me some good pointers.  

The industry continues to see consolidation, with private equity-backed firms actively acquiring, albeit at a slightly slower pace than the frenzy a few years back.

Unfortunately, it's now going to get more complicated:(There are two types of approaches PMCs use to bill for maintenance:1) In-house ServiceTechs on the payroll, so owners are billed for their time by the hour.While the labor charges above are useful, they don't cover the true costs a PMC incurs, like:- Payroll costs for FICA, Social Security, Medicare, etc. that typically add 25-40% to the hourly rate- Medical insurance costs for the worker- Payroll processing costs to handle all of the above- Liability insurance costs in case worker damages something or injures someone- Workman's Compensation insurance- Costs of vehicles and tools- and more...Typically the management contract will disclose the total hourly rate an owner will be charged.

My company is actively scaling in the multifamily space, and partnerships are at the core of what we do.

I don't want to violate any of the self-promotion rules on this thread by specifically linking or name-dropping, but it's from a data analytics platform I am working on specifically built for tracking construction, debt, and ownership activity in the Philadelphia region.I will be posting more detailed insights soon. 

Tax deductions / write-offs should be a second concern.There are some rules that you need to follow to treat a short-term rental as 'active'(non passive) income which would allow you to offset it against other forms of income such as rental income / wages.