Your first step is definitely learning about the markets you are interested in and figuring our what your desired end state / goal is that you are hoping to achieve through real estate.

If you decide to operate one outside of their desired areas, they will come after you with hefty fines.

Buyers should always do an inspection; it's a requirement in my private client firm. 

I've never been so disrespected and found such an unprofessional firm, and I have property mgmt companies in 4 different states

I get the desire to own outside of Chicago proper, but instead of going to another state altogether, why not invest in one of the burbs?

To thrive in real estate investing, you must maintain a firm grip on your finances.

There are other ways to legally raise capital, however, they have some inherent disadvantages making them considerably less desirable for what you’re trying to do.   

If it's a deal that is in a very very desirable location and has tons of built in equity and appreciation, I would be totally good with negative cash flow for Y1 and Y2.

Will look to refi next year and get all our cash back (have 1 year left on generous seller financing)Failure: still battling a tenant eviction industrial property, costing me money (I can afford) but time and my energy (not a great use)A ha moment: just to focus on higher equity slugs into fewer deals, the law firm is #1 for me2025 goal: complete exit, closing Jan 9, keep making offers, grow the law firm with less billables

I'll send you a DM on a recommendation for a law firm a lot of our clients use.