I am trying to work on a team project, but do not have the footage readily available, so I can't edit the project. Does the owner of the project need to send me all the footage so I can edit it from there? Or is it just they share the project through email or sign-in? I would really appreciate the help with this!
The owner will need to share the media with you, or proxies. They can share the media in a variety of ways -- Creative Cloud Files, Dropbox or any similar file sync service, ftp, a cloned hard drive, etc. Once you have access to the media, Premiere will either find it automatically and bring it on-line, or you will need to locate it using the Team Projects Media Management dialog.
With Team Projects, only the project data is stored in the cloud. In order to get access to the Team Project itself, the owner will need to invite you via the email address associated with your Creative Cloud login. Also, you must both have Creative Cloud Enterprise or Creative Cloud for Teams licenses. Team Projects are not currently available when using an Creative Cloud for Individuals license.