Look for reviews or personal recommendations from people you know and trust and that have plenty of experience with the vendor.

I can give you plenty of reasons why an LLC is unnecessary and the need for one is highly exaggerated on these forums.The best way to protect yourself is to know the low, obey the law, and treat people honestly and fairly. 

I've heard of plenty of different JV splits and set ups in other real estate spaces, but is that common in the STR space? 

I've seen plenty of handyman/diy receptacle replacements with loose wires that are just as bad as loose outlet connections.Covers like these are why investors get bad names. 

Hey @Laurence Andino - thanks for the background, so if the owner (your client) doesn't actually own the real estate, it's a business sale :) There are plenty of brokers and even online marketplaces to buy & sell individual businesses.

My ideal day would involve some sort of time outside, exercise, a good cup of coffee, involvement with friends and community, self-development like reading books, and plenty of time with my husband and son.

Assuming your buying in the Chicago area there is likely to be plenty of options for private money with competitive rates.

I now have a wonderful home to live in with plenty of created equity via forced appreciation, and minimal paid-in equity.

Plenty of work, but opportunity too if you work it like a business.Remember, most places you will need cash on day of auction.....typically no financing available.....you probably need time....time to attend the auctions....and some real estate experience and expertise to work thru a myriad of problems these properties often have....you have to be resourceful....I can tell you for example I network and interact with plenty of board certified real estate attorney's ....and trying to find one to write a redemption deed....none of them had ever done it....many not sure they wanted to do it. 

Plenty of personal buy houses and flipping.