And even though virtually every sponsor agreement allows me to share investment information with others who might be advising me on it (especially when club members are bound by an NDA), I still ask the sponsor if I can share it, because it's a test.

There maybe some misunderstanding, being a short term rental property owner that will be self managing the daily operations, I’ve learned that in this scenario I would need to count at least some of the time spent setting up the property to pass one of the material participation tests.

Be sure to have good exit strategy for if/when that happens.A wise mentor told me once that until you've "Battle tested" a strategy for at least 5 years thru one full economic cycle, consider it still all good luck.

FHA is 3.5% down but anything over a 2 unit requires a cash flow test, with rates where they are I hardly ever see anything in Chicago that would work. 

In this heat have lots of cold bottled water for the guys .   

I always recommend to use local companies that provide the data or do It manually when you get startedThen, after you close your first deal, use other sources like national software companies to test it and see what works better.

Has anyone here tried and tested the Reventure app for the real estate market analysis?

At least in Missouri, and depending on size, you typically have to test your waste water monthly/quarterly, and then you have to file a form quarterly with DNR which reports the status of your treatment facility.  

Here’s how to navigate these issues and negotiate with "AS-IS" sellers.Step 1: Asking the Right QuestionsDuring the initial phone call or walkthrough, I ask the seller key questions to assess the condition of the well and septic systems:Do you have any well reports, logs, purity tests, or flow tests?

Risk assessment.Our 3 bankers all have stress test calculations in our deals.