I will only live in one of the units 4 out of the 12 months of the year because the other 8 months I will be with the Angels organization, during that period they provide a place for me to live and also food, so during those 8 months I would have more money I could save up and use in my house hack.

Pay close attention to the capital stack, how much debt there is, how much preferred equity there is, how much the GP is co-investing, how much they project rents to rise organically every year, what exit cap rate they're assuming, how much cash reserves the property/investment will have, how much does the deal returns change when you add 50-200 bps to the cap rate, what is your breakeven occupancy and exit cap rate, and a bunch more. 

I do know an independent landlord in our area that has one duplex and a fair housing organization filed a suit against him two years ago and he has had to defend it.  

There was an article published in the WSJ on January 25th 2001, yes a long time ago, and this was the first paragraph "NEW YORK -- Realtors, already battling Internet companies that have entered the home-selling business, are now organizing to fight a joint proposal of the Federal Reserve and U.S.

The key is to invest in the best markets in the US - best meaning growing (not already grown).  

This was verified by MBDs personnel (Brian Dozier) ON THE RECORD if you actually read the court documents.4) Dozier also verified on the record that he was the only one in control of operating MBD and responsible for the money.5) When I received money from my investments from them during the good days, it always came direct from MBD and at the time I even signed a doc acknowledging this.Lastly, the OP mentions several larger investors forcing MBD into an involuntary bankruptcy to recover our assets was a good thing yet they don't mention that:1) Sief IS the one who led the efforts against MBD, organized investors and looked out for all our interests.

I am especially interested in knowing how much capital it takes to get entitlements organized, etc.

The rents in Peoria have not kept up with inflation which means the expenses have grown as a percentage of the rent.  

As a widower with 5 grown kids, building a legacy and providing affordable housing options are top priorities.

I have grown to really like the STR business!