I'd love to meet with someone in the area, preferably an individual who knows the business and owns property so that I can gain better insight towards real estate.

Your liability policy will be the individual policy on the property. 

I’m looking to buy a 2-3 flat in Chicago and was wondering if anyone has had any experience buying a multi unit, living in one bedroom and renting out the other bedrooms in the units individually and not as a whole. 

Not sure if they are platting the lots for individual resale.

One resource Texans have is the Texas A&M University Real Estate Center which provides a lot of good data for most MSAs and individual cities.

This is the combined net worth of the partners, not each individual.

I also suggest joining your local REIA group and trying to surround yourself with like-minded individuals.

Include photos to demonstrate such how stupid it is for them to claim they did preventive maintenance.On a personal note, each of the words individually - sewer, standing water, HOA - are cringe-worthy. 

I'm partial to annuity-based calculations that factor in the investment horizon and individual risk preferences of the retiree, like this one.

Rather than focusing on ADRs or occupancy rates individually, RevPAR is a factor of those two values.