Just before we launched our first couple MTRs we started reaching out, networking, and pitching our model to local companies.

In Phoenix, for instance, I’ve watched investors bring in a local property management crew who know how to squeeze every last dollar of value out of a rental, or partner up with local 1031 exchange specialists like AccuTitle to keep the paperwork tidy.

I was intrigued with the prospect of buying distressed properties in bulk quantities and finding local investors who could rehab them and put them back on the market.

Do your research, find a good local agent to help, and jump in!

I will definitely be looking for local investor meetup events around the Chicago and greater Chicago area.

My local Airbnb rep said the algo does consider cleaning fee too so try to be lower or even with your competition. 

I highly recommend attending real estate networking events to meet more people is this space and pick their brain and learn more from their projects and see what is working and what is not.

Has anyone tried to operate a business on a plot of land with minimal development until it builds revenue for a structure (flea-market, private park, outdoor event venue, etc)?

I started my OOS HML  career in Detroit and that was 2002 and WOW coming from our area what an education I got.. my clients that were doing turnkey at the time and all the buyers were out of state ( basically LA based) the local on the ground operator was very good he had all sorts of tricks to try to keep the houses safe.. the one i really liked was painting the copper pipes grey so thieves would not steal them..

Since you’re leaning toward multifamily, it might be worth connecting with local investors or brokers to see if a license is necessary for your goals.