I understand why you look at schools and crime but you need to focus more the quality of tenants and the ability to keep a property rented longer.

If so you would want to come to an understanding on who maintains the "improvements" and get that in writing. would love to see some developers jump in on what their experience is. 

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

I understand your excitement about taking the plunge into real estate investing.  

So if I am understanding you correctly...I need to scale and have people working for me and THEN the business can become more valuable because its not so much the client (owners) are loyal to me personally but moreso they're loyal to the business and how it operates... 

It sounds odd but it's 100% true in the real world.

Between market fluctuations, every so-called expert's economic forecast, and natural disasters…sure, I can understand that.

I read couple of books about REI, and I understand that during first years of investing I may do more mistakes and I want to make them frugal. 

It will take time to learn and understand how to have your money make money but i guarantee You will look back 10, 20, 30 years from now and be grateful that you got into Real Estate. 

Conduct thorough market research to understand rental demand, property appreciation potential, vacancy rates, neighborhood trends, and economic indicators.Please take some time to review your financial goals and develop a strong financial plan for acquiring and overseeing new properties.