The part I think I will get stuck at is refinancing.

In my third year of college working towards a a bachelors in Business Management, and I have no debt and 7k dollars in the bank.

Also, can I do this through an LLC or would that hinder my ability to get the best outcome since I would only be a one third partner in the LLC. 

The hardest part is spending 12 hours searching for a BRRRR and brokering the transaction on a 40-50k house and making peanuts.

You still have to pay taxes in Illinois as a foreign entity.Check out the Chicago Creative Investment Adviser (CIA) which meets on the third Sunday of the month at the Embassy Suites by Hilton in Lombard, IL.

In addition, if you don't have enough funds in the solo 401k plan to make the purchase, the solo 401k can obtain a non-recourse loan from a third-party lender.

But for a 30-unit property you should expect weekly updates as to what is going on (# of showings, # of interested parties, feedback from showings, marketing efforts, etc.).  

I got my first house with all of my student loans and the only part I had to get around was the Debt to Income.

The “contract” we bought was hand written on a yellow pad piece of paper and signed by both parties.

Providing brokerage services without a license is illegal, but a contract between two parties is just that-- between two parties.