All of these different options involve taking different risk versus the projected return.

I’m not sure if that is doable since a bank is involved.

That it’s a sliding scale of passive versus completely involved. 

There will be MANY people involved, serving many different roles as you already know.My second piece of advice would be to find a property where you can force appreciaton & rents through capital expendetures. 

I know it’s not that simple, but I have no connections to anybody that is involved with rental properties or anybody that has financial freedom.

Hi,I moved to Jax last summer and have gotten involved in many real estate groups.Here are some to explore:https://www.facebook.com/yellowbirdconnect/Yellowbird runs a monthly meeting on the 1st Thu of the month, free event, lots of great networking.https://jaxreia.org/JaxReia is the oldest group here, has many meetings during the month. 

Its not worth getting a lawyer involved over $400 so I'll more than likely just return it and be done with it.

Its not enjoyable to do remote rehabs and distressed property in midwest and midsouth markets are sometimes in rough neighborhoods which is best left to the local players only.You can learn about syndications which do involve value play when asset is sold within their time horizons

If there are only a few people involved you can typically get by with an LLC, the bank would be lending to that entity. 

Hi everyone, I recently turned 21 and I’ve been wanting to get involved in Real Estate for quite some time after seeing the endless possibilities of renting out properties.