Here are my responses to your questions1) Not my area of expertise, but the numbers on this are very strong2) I'd generally lean towards building the CFM, but strategically selling some properties when someone gives you a offer you can't refuse.3) Most HMLs would lend you 75%-85% of your purchases prices plus up to 100% of the rehab costs (though some HMLs like to see the rehab costs at or below the purchase price).

Having a "master" accounting software allows you to blend all property-specific info with general business info to see your full financial picture. 

While I understand the basic structure of General Partners (GP) and Limited Partners (LP), I was under the impression that GPs always had to put 'skin in the game.'

However, I think there are some nuances to consider, especially for those still interested in STRs or real estate in general.1.

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans 

I go to vacant properties at least weekly unless they are multi-family with active neighbors.)Generally speaking, if a property isn't moving (and others in the area are), either you are priced too high or there is something lacking with your property.

Make sure you have that addressed just from a liability standpoint. 4) You could also look into a mid-term rental option with traveling nurses if you think the unit is truly rentable. 5) AirBnB restrictions have gotten much stricter as well in general in Chicago, so make sure you are on the right side of those if you put your unit up since you are required to register with the City.

You can look those up online through the Secretary of State website most times.Hope that helps!

It helps being willing to talk to sellers/get on the phone and talk to folks in the real estate space in general but the most important thing in my opinion is being an honest and true person.

In general, Cleveland is an excellent market to purchase rentals.