You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

Start with an investor friendly agent who understands cash flow and appreciation trends.

Market insights and understanding the rental rates in the neighborhood.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Also, it appears from your comments that you do not have a full understanding of how depreciation works post-1031.

Hey Joseph, my understanding is that if you wanted to team up with an accredited investor though an LLC in order to invest, both members of the LLC would have to be accredited.

I understand that it is less than ideal, but it is reality. 

Any recommendations of a good realtor who understands the needs of an out-of-state investor who works the Lorain area of OH would greatly be appreciated.

After you feel confident in understanding real estate as an investment vehicle, decide how you want to begin your investing journey.

I had to look up what "variance analysis" meant.If I understand the question correctly, you're asking "What went wrong to not hit our 20% target?"