Or there is some mechanism to revert the ownership to me in case trustee goes out of business?

You could potentially begin with a small multifamily, a duplex, triplex, or 4-plex and amass a portfolio that will give you a better understanding of the mechanics and complexities that come with owning many units.If you are looking for in-person meet-ups, keep an eye on the Networking tab (see below)https://www.biggerpockets.com/forums/521-events-an...

Like any other business, it takes an investment of both time, effort, and money ... the returns can be great, but you'll need to work for them, at least at first until you can scale and build out the systems to put it on auto-pilot.In summary, if you want to diversify into REI and stay passive, look at REIT.

Which project should I tackle first (structural like roof, mechanical, cosmetic exterior, cosmetic interior, interior maintenance, etc. .  

Then in your email program, setup an auto-forward or auto-action that emails the tenant that you received their rent. 

Rich Dad Poor Dad, Millionaire  Real Estate Investor, Hold, and Landlording on Auto Pilot.I live in the northwest suburbs of Chicago and just purchased my first deal.

If upgraded means that they have pictures of the a stud up improvement with new electrical, plumbing, windows, mechanical, roof, etc. from start to finish I am listening.If ( which is 90% of the time ) they are talking about some paint, new carpet, and some handles or a counter top then I have generally ZERO interest in that.

I am currently a Freshman at Florida Agricultural & Mechanical University in Tallahassee Florida.

My normal routine is 1) lead contacts me   2) I have a brief conversation and set them up with lender to get approved   3) they get approved and I set them up on auto emails based on their criteria  4) I never hear from them again and finally get ahold of them weeks/months later to find they are under contract or working with another agent.. 

Use auto deduct , have the parents guarantee and keep them out of the basement.