I'm currently exploring ways to acquire another property, but I am maxed out on conventional loans. 

I'm new to rental property investing and exploring my options.

The reno part is in the form of a draw, so you would need some liquidity to get the project started, but yes, sub-20% initial capital investment is do-able.

I may not be well-acquainted with the Chicago market, but I recommend exploring local Facebook groups as well.

New to real estate and just starting to explore the area!

Totally understand your focus on staying local for now, but if you ever consider exploring out-of-state investing or want to connect on strategies for building reliable teams and sourcing deals, happy to chat and exchange ideas.Wishing you the best as you dive into the Bay Area market — sounds like you’re off to a strong start!

Is that enough to get started and what is some advice for starting out. 

Anyone have any tips on where to start to point me in the right direction?  

There are options out there where you don’t have to take on massive projects or risky BRRRRs just to get started.One approach that helps newer investors build confidence is starting with a fully rehabbed, rent-ready property in a stable area, especially in the Midwest or Southeast where price points and rent ratios still make sense.

Quote from @Mat Garcia: I've seen a lot of charter schools start up in South Florida in the last decade.