You don't need to know everything to get started; you need a foundation to build on and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

This experience highlighted the importance of thorough initial assessments and flexibility in budgeting, reinforcing the need for strategic planning and adaptability in real estate investments.

This experience reinforced the importance of strong partnerships, quick decision-making, and effective management in real estate investments with Partner Driven.

If you’ve never owned a rental before, I’d highly, highly, highly advise staring out much smaller than 13 million and 100 units, and frankly unless you have 13 million in cash no bank is going to lend someone with no experience 13 million dollars, I’d start with multi family in one of three places, a class Baltimore, canton, fells, Fed hill etc, Frederick or the eastern shore of Md all of those markets are somewhat affordable have good tenant mixes and a relatively safe, see how it goes, if you like it, than buy another 2-4 unit, than another maybe once you have 8-10 units if you still like it, still are making money than go for something bigger.

All comments are valid, but a few things to consider here:First of all, I am not an attorney, so this is not a legal advice, only options based on my experience.-  Subject-to is not being accepted by any lender at the current rates. 

Here is our experience:  There is considerable potential to manage a yield-bearing asset, but as @Alice V. mentioned, insurance costs have soared, to $1,250 per door.  

My experience is that condo associations typically charge so much in monthly HOA fees that any potential investment income gets eaten up by that fee.

I do not have enough experience in tax.

Legally they can't be shopping for a quote for you but they can definitely share a few contacts, especially if their past clients had good experience with these specialists.

@Chris Marette, take this with a grain of salt, because the only times I appealed appraisals were before COVID.In my experience, if you stay with the same lender and you get a second appraisal, the best I got was an average of the two appraisals.