So you each spend a few grand on a mediator and then work it out.

Which ever market you choose build a team and spend time connecting, networking.

You might spend between $5,000 and $20,000 on furnishing the unit, depending on your choices.

Research competition  and determine their profitability and how much they spend on marketing, how many employees they need, and how much time the wholesaler needs to devote to the business.  

Get a side gig for extra cash flow, stop all extra spending and live like a monk. 

how much do you have available to spend on renovations? 

Practically speaking, it’s going to be quite challenging unless you spend significant time.

Your best bet is to find one that has flexible membership options, without high spend requirements.

If we decide to refi in 3-5 years, though, we may time a couple of the leases to end at the same time and spend ~$6k to tear 2 rooms down and rebuild them.

For me, real estate was a means to an end...so that I could spend all my professional time doing what I love: helping people and renovating properties.