If you start pooling money from people who are not full partners (i.e. have decision making power), you will start to cross into the territory of securities, in which you will be subject to SEC rules.

Let's start with the simplest reason of them all: imagine your CPA is working on your taxes.

I am new in the real estate industry and want to see if you have any tips for a new agent, also any events or recommendation to start meeting people and getting more connected to the Real Estate world.

They now see you as a weak landlord and will walk all over you every chance they get.Please don't make another mistake by housing them for a renovation and then handing them keys to a renovated rental.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

So, you could be stuck with that money tied up for the length of the wrap.If the Subject To teacher you learned that from told you this was a good idea, go get your money back.BobNot trying to start an argument here - just detailing my experience here.I agree with much of what you say. 

Any other ideas how to manage the Airbnb while being more hands off? 

I'm wondering for those of you who have gotten a few deals in, how did you start once you had the money?

If I were in your shoes, I would start with a more basic project.

As a builder we control the cost and we can adjust to our clients budgets when possible, or provide additional turn key services as blinds, rent units, pre-rent units or let their property manager start advertising even before closing to give our clients the ability to make money right away!