If I were you I would certainly have a well qualified real estate / securities attorney involved in the venture.

With so many parties involved in a real estate transaction, the waiting is the hardest part.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Hi there,I closed on my sixth buy and hold rental recently, and had my first Open House for it this past weekend. Today, I received  multiple calls from the next door neighbor, and he is insisting on having a say in t...

Get involved in forum and pick the brains of those who are doing exactly what you want to do.

@Joel N.I feel it is great thing if you do not want to get involved with the entire real sales process, find an agent that is great pass him/her your possible retail and/or commercial leads and get a referral check.

JDCU in northern MA May lend on something like that but their rates are 5.5% right now (I just got a loan from them for a less involved project).

I have superior insight as I'm deeply involved in our city!

You still have several options, depending on if you want to invest directly in individual properties or be a bit more removed:Full-service turnkey investment: Should be mostly passive after you do your due diligence and pick a provider, but don't skimp on your homeworkYou choose which props to purchase, but have no control over tenanting choices, some say in large maintenance expensesAvg cost for solid B/B+ prop in Birmingham (and some other markets but this is the one I have data for, since it's my market) is about $100k per door; you'll pay market price for a tenant-ready, fully rehabbed propertyPartnering with someone who does the on-the-ground stuff while you provide capitalCan be passive if your partner really knows their stuff, but more likely you'd be fairly involved with the choices madeMore control since you call the shots with your partnerYou can pick which markets and price points you're interested inPotential for higher returns (ie buying distressed and then forcing equity through renovation) if your partner is experienced and can execute consistentlyInvesting in a syndicateMany investors pool funds to invest in much bigger projects like commercial space or large MFRs, or in larger portfoliosVery passive, investors are not responsible for project vetting or management, but you have no controlMay have higher bar for entry, some syndicates require large investments and you'll need to have liquid cash on handBuying shares in a REITLike an ETF but comprised of real estate investmentsVery passive, but no control over which assets are held in the fundHighly liquid, easy to buy and trade, lower bar for entryEverything is a trade-off between passivity and control, time and money.

I seem to just be coasting toward a goal in the far distant future.This is a long way to ask what do you want to do in retirement, what should I look into, what should I read or start getting involved in.