If the latter, how does that look on a day to day in terms of operating, marketing, and the ownership structure?

I did not see marketing costs, nights that you need to spend at networking meetings paying for dinners or memberships.

To determine what to offer on a rental property:Determine reasonable market rent, NOT the highest!

Out-of-state investing in cash-flow markets or partnering with experienced investors for passive returns are also great ways to put your capital to work.

Buy in Q4 when market is soft.

Guest breaking down their markets and strategies gave me a lot of insight.

And yes it sure isn't what it seems, especially in this market.

The more people you meet the more you'll recognize the ones doing what you'd like to do and you can start learning to how to provide value to them / find them deals maybe.It's a tough market and unless you are providing value to an investor it's not going to be as easy as finding someone to shadow, i don't think.

I am in the Milwaukee market. 

Quote from @Ivan Castanon: Quote from @Jay Hinrichs: depends on market most of FLA that wont move the needle.rust belt mid west you can find deals for those amounts.. going to be rougher areas of course. do NOT follow the advice of anyone suggesting second postions or gap funding.