For a Reg D 506c offering, you do not even need a PPM and the sponsor has complete control over what they can do (as this is typically explained in the subscription agreement you sign). 

Are they typically willing to partner with new brokers, or do they require track record, etc.

Since you're looking to get started without down payment funds, consider exploring options like seller financing, where the seller may finance part of the purchase, or looking for partners who might invest with you.

With a budget of $200k, your 2-4 options are going to be limited mostly to the south side of Chicago which is either going to be C or D class.

I think it is simply another option.

Would like input on how has had good success with multi family bootcamps and paid mentorships.Is there a particular program someone recommends, I see allot of options out there?

New to DFW and I would love to hear your advice.We concentrate on buy & hold, typically 150K - 200K PP, at least 1,000 sqft.In which areas do you think we can enter the market?

could you do a lease option to purchase it and do all the work, then "refinance" it with the purchase in a few years?

My question is – if the seller does not reduce the sale/purchase price and I max out on seller concessions, what options do I have to avoid this “wash”?

We typically don't cash-flow you personally.