I understand that there is minimum lot size to build a structure in Lee County / cities, so you would want to look into that as well, especially in Cape Coral as I heard that the lot sizes tend to be smaller there, and multiple lots would be needed to build a house there. 

Originally posted by @Josh Kundrat:Since it's in Chicago you might wanna avoid security deposits and opt instead for a non-refundable move in fee I don't understand this reply.

I've considered it but have not executed.In regards to the heloc if I understand things correctly you will not be able to take out a heloc on a investment property but simply a loc or a blanket/commercial loan depending on the financial institution you decide to approach with the situation.

Understanding where assets are in the life cycle will help you command more deals and better ROI.

If I understand correctly this property is one that you 1031d previously and now want to put into an entity with other members in exchange for membership interest.  

Appreciate that your humility in understanding that there is always something new to learn.

I think having access to the MLS would really help because from what I understand there are a lot of tools you can utilize like seeing average days on market, seeing comparable sales, and a lot more I'm sure.

This will help you to understand what is the true price for property.

I really interested in understand the rental market here, making connections and finding deals.My goal has been to buy 1 property a year, but as you can tell, I am way off track.If anyone has experience in Tampa Bay/St Pete, I could really use your help!

Does not make them a scammer just poor choice of assets and probably not nearly experienced enough in the asset class to understand what they are really like or what they are doing.. as they are brand new to the space.