I understand promoting myself and relationships are a big key....I'm just wondering how much of that I need to have in place before I begin.

They also get substantial discounts on materials and mechanicals and better labor rates from their contractors.

For insurance, the tenants property is covered as personal property on premises, you property is under your coverage as property away from your premises or under your landlord policy as on premises, coverage amounts are different for these classifications.My lease also addressed personal property and substances kept on premises, restricting flammable, toxic, acidic or corrosive materials not normally found for or in residential properties and that common materials are stored in proper containers.

Our ultimate goal is to launch our own website to promote/book our VR properties. 

:mrgreen: (please do not remove, I am not promoting this site)

They also have a ton of material on all of this and seem to know what they are talking about.Do all of these attorneys work on retainer or can I interview them for free?

I suspect that you should read some material on asset allocation and spreading your bets across asset classes.40 properties will almost certainly be accompanied by a mountain of debt if you acquire them in the next 2 years unless you are very wealthy to begin with.

Great reference material!

This is the sort of expenses that you, the promoter of the syndication, would spend out of your own pocket as part of putting the deal together.  

We put the materials on a 0% interest credit card, got the airline points, paid our contractor with cash reserves, then paid off the card.