I raised bees for three years and loved it. Unfortunately, my hives developed foulbrood and I lost everything my last year (plus I didn't have the time as my kids got a little older).
There is probably a beekeeping course offered by your statewide beekeeping association. Different parts of the country have completely different management techniques. Trying to raise bees without a good book or taking a good course is asking for trouble. I would suggest hygienic bees to limit your possibility of disease.
If you let your neighbors know, they may have no objections to your raising bees. There may also be some ordinances in your town prohibiting this hobby. If you are going to raise bees in a small lot, you should have a fence so the bees have to get high enough so their flight path is less likely to run into people. You should also provide a water source in your yard so that a swimming pool in the area does not attract swarms of bees.
This also tends to be an expensive hobby (like raising saltwater fish).
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