The Internet of Things (IoT) is finding increasing application in different areas, whether for private users or in industrial plants. The IoT increases the attack surface for Advanced Persistent Threats (APTs) due to insufficiently secured IoT devices and networks. The heterogeneous structure of the IoT poses several new challenges for the application of IoT forensics (IoTF). Due to limited resources and storage capacity on the devices, the application of traditional forensics is not possible. Therefore, the nature of these IoT devices urges forensic experts to extract and analyze possibly relevant data in a real-time manner from running devices by applying Live Digital Forensics (LDF). Although LDF investigations are not commonly applied in the IoT context yet, IoTF could benefit largely from a combined arms approach with LDF. Thus, security experts with sufficient skills and knowledge will be required to perform such procedures. Addressing the challenge to equip future forensic experts with these skills and knowledge, we propose a concept for an educational IoT Cyber Range for LDF for postgraduate cybersecurity learners. For a realistic learning experience, we outline the simulation of a simplistic, underlying IoT system. In order to create an environment that is as realistic as possible, we describe an illustrative scenario that serves as a motivational story. Following the scenario, learners carry out several tasks of an IoTF investigation for solving the scenario.