You can also see if you can joint venture in a LLC with a private lender

As I start this venture, I want to avoid the mistakes of other PM's and learn from those who provide and excellent service to their clients.

I have enough savings to pay the down payment (family supporting me in this venture).

They might offer better terms or be more flexible in such situations.Partnerships and Investors:Bring in Investors: Your friend might find investors interested in contributing capital in exchange for equity in the property.Form Partnerships: Consider forming a joint venture with a developer or another property owner who can provide the necessary capital for rebuilding.Similar Experiences and AdviceCase Studies: Researching similar cases can provide insight into how others have handled such situations.

Run conservative numbers when figuring out how much you'll be able to get from selling your property when deciding to venture into this to make sure everything makes sense.

Congrats and hope your successful on your ventures.

My partner and I are eager to embark on our first real estate venture by acquiring a long-term rental apartment in downtown Chicago.

Usually wholesaling works best as a side venture while buy/hold is the main focus.

Very happy for you taking the leap into Real estate investing, it's a venture that some folks never get off the sidelines for.

And may pivot to other ventures while leaving certain assets in place.