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Updated over 2 years ago,
House hacking MFH in south suburbs of chicago?
My fiance and I are moving back home to the south suburbs of Chicago within a few months. We are trying to find MFH in the Frankfort/Mokena/Lemont/Lockport area. I can't seem to find any good deals on the MLS that will cash flow (we can't use any other methods since we are out of town). We have a $30k downpayment and looking to do FHA for our first home (still haven't talked to a broker or real estate agent). In our current jobs we make $60,000 and $75,000, that should increase a little when we move to the city.
We love the idea of getting a new house every year and holding properties for cash flow. Doesn't seem possible in the Chicago market. Should we expand our search? We want to stay out of Chicago as we don't really like the big city that much. We were looking at NW Indiana as well but, find the same issues. I have construction experience and would do everything myself until we got too many properties.
Would love any insight from investors in the area. We would love to connect and learn from anyone in the city.