If your credit is good, any lender would let you do 2 - 3 deals at once maybe up to 5 at once once you establish a relationship with them and you show them that you can exit the bridge loan and get into a DSCR or sell.

If your partner is a contractor and wants to keep busy, that could be a different story, but I at least consider looking at long term ownership plans and flipping as very different businesses and a lot to learn on both, so not sure I'd risk losing money and time dealing with flips. 

A lot to digest but some gold nuggets of information and wisdom!

Use self-management software, establish clear communication channels, and consider Section 8 for first rentals.

If there is no agreement signed and this person is just someone listed from the broker's database, I do not believe it is acceptable for the broker to collect a split in addition to the house split.If you are to consider negotiating this additional split, there is a lot to take into account here... what is the % of business that you generate on your own vs. how much your broker contributes?

Those who have no cars or don't drive cannot simply walk into the parking lot to attend.If applied to residentials, such strict guidelines could mean (I hope not) nobody can be moved out of their apartment for any reason at all because all have to remain indoors indefinitely. 

I have a rental agent in charge already established and started the rental registration, but am I really needing to wait up to 2 months to get a tenant in there?

There's a lot to this and illinois will not approve you without these things in place, as well as some others.Good luck.

@Andrew Steffens - I've got a lot to learn! 

This has given me a lot to think about.