I have not established an llc yet since I don’t own anything as of now.

Ok, so we've established to never use a security deposit while a tenant is still living there, and to just bill the tenant.

My goal is to provide as much value as I can and hope to establish multiple relationships with investors in the area.Where are the best places to network with other investors in the area?

How do I begin the process of actually breaking into such an established network of people who have way more experience than I do?

These plans typically cost a bit more to establish due to the legal work, but in most cases will save you considerably over the long term.

When your friends are your tenants it's more important to establish roles between Landlord Ross and Tenant Ross. 

Dig deep, and establish that repport with them, so they feel comfortable just telling you everything, "Tell me your story. 

I've established some connections in Rochester, but interested to pick the brains of other investors in the area.

One company owns everything and does nothing (this is your SLLC a/k/a “asset holding company”) and a completely separate company handles all of your operations (this is a traditional LLC a/k/a “operating company”) For the operating company which serves as your face to the world and through which you do all your business, you establish a Traditional LLC to carry out the operations of your investments.

Is it as simple as receiving money from the acquaintance and repaying it according to the terms that we establish?