We have the most important element in that we can bring much under valued properties to the table.

It's got to be able to withstand heavy snowfall and the Chicago elements. 

With a heloc the interest rates will go up and down, they aren't fixed so that is an element of risk you are opening yourself up to.

I definitely prefer not to work with Realtors because I feel I can bring a human element to the conversation that a Realtor is not able to.

So if you have debt there’s some element of “interest rate arbitrage” you can do.2.)

If being environmentally conscious isn't a concern and a 20-30 year lifespan is acceptable they will do fine.

Look into ESA phase II analysis (aka Environmental Site Assessment) for soils.

A few months ago, at the Environmental Information Association convention in San Diego, we met a man from Home Depot looking for consultants to help with asbestos, mold, and lead.  

The work element is an interesting way to add purpose to the relationship and probably helps engage people.

I’ve had a number of partnerships in business and RE over the past 25 years and the one critical element I have learned (through experience unfortunately) is to make sure you put in place a written buy/sell agreement as well as a funding mechanism for that agreement (ex. life insurance policies).