I tend to be more conservative rather than aggressive overall and would prefer to pay cash for updates to the other apts when I fix them up but I have the opportunity to have 3 of the 4 units fixed up within 6 months of buying it if I get a HELOC/personal loan etc for the repairs. 

There are several companies or individuals that do this model in Chicago but they are definitely not all created equal.

Some landlords I've known have verbal agreements while others prefer to do things in writing.

I am still working on understanding how to navigate this site but if you prefer you can direct message me and we can exchange contact information.

I have limited construction / rehab experience and I'm wondering If I should be hiring a General Contractor to do the work or finding each individual person myself and acting as the GC.How do some of you handle getting the work done?

I've been talking w/ my conventional lender and he said I would have to buy each building individually, which means 5 closing costs instead of 2. 

But that would require cash and I'd prefer not to invest any more in this property.

I am trying to build a network of individuals in the New york, New Jersey tri-state area.

Needless to say I immediately immersed myself in research (really I geeked out for a minute on podcasts and blogs) about real estate and met a like-minded individual with experience to partner with and started doing it myself.

I heard that there are individuals investors who lend out money for purchasing.