I have one LTR and am working to make my second investment a STR in coastal NC. 

While I'm not a legal expert, in Illinois, landlords typically have the right to serve a 5-day notice for unpaid rent.I had a friend who faced a similar situation with a tenant who was a traveling professional.

You should post in the Starting Out (Real Estate Investing for Beginners) Forum to get more responses.

I may be able to help you secure a no-experience ground-up construction loan, even though lenders typically require someone with prior construction experience.If you're willing to reach out, I’d be happy to discuss the possibility of pulling some strings to get this project funded.

Here’s why you should consider investing in this growing market:Affordable LandFlorence offers affordable land compared to larger markets, allowing investors to secure property at lower prices with strong potential for appreciation as the area develops.High Demand for New HomesThe city’s growing population is driving demand for new construction.

What are reasonable terms  to attract others to invest in you with a property.

With that said, typically for something to work, you have to buy it off market.  

This could be a share of the profits or equity, typically in the 20-30% range, depending on the complexity and the workload.

@Rohan D.If you only have these K1 investments, both with losses, and no other real estate investments - the answer is probably no.

I would suggest considering an investment that could help you pay off the HELOC quickly, given the high interest rates typically associated with them.