While I have seen only good things said about PPR, one thing of concern is that even though they started  during the great recession they do not have a track record of weathering one.

I'm a beginner investor and currently own an S Corp.

I also feel like it is pretty beginner friendly in the sense that no cashflow or even slightly negative cashflow still provides opportunity through equity gain.

Given this is one of the rougher neighborhoods, I'm a bit concerned that the next set of renters might not be as good as this set of renters.

It also makes it harder for other operators down the road--- not your main concern but we all impact each other.What about you and your wife live in the garage unit, and rent out the house for a lot more, at least until all this permitting is figured out.

All of us have stable jobs and no other outstanding concerns.

I also have a 3 family that I'm trying to refinance with a DSCR and I am concerned with the cash flows its in Chicago, IL. 

And I generally require a sponsor that has full real estate cycle experience with little to no money lost, low leverage, high skin in the game and reasonable fees and promotes.However, other investors will look at these deals as bad/too boring for them because they are more aggressive and not concerned about the risks of default, refinance, interest rates changing etc.

I’m not so concerned with how to turn them on, it’s more what immediate issues may I encounter when doing so and how can I mitigate them.

THEN ask about investing out of state.This isn't helpful advice for beginners that live in an expensive market and are trying to get started in today's environment.