Just Purchased 1st Owner Occupied 2 Flat in Chicago. Now What??

[Triston Murray]

Hey All, I am new to Bigger Pockets. I purchased my first property (a 2 flat located in Chicago) earlier this year (2014) and am looking to expand quickly. The property has numbers that look something like:

• 2/ 3 bedroom, 1 bath units + 1 bedroom in-law unit in basement
• 165k purchase price/ 160k FHA loan w 3.5% down
• PITI approx 1300 + (200/month for a renovation loan renovating the basement into livable condition) = 1500/month
• 2 above ground Units Currently listed each at 1250/month. both are currently vacant, one is pending Section 8 voucher application. (hopefully both will be occupied shortly)
• Gross rent should be 2500/month

My goals are such:

• Buy/ Hold/ Rent Multifamily in Chicago or surrounding areas
• Passive NET rental income of 5k+/month

Currently I work a 9-5 and don't have anything saved! I wanted to reach out to the BP community to see if anyone had any thoughts as to how to quickly expand my holdings and ultimately reach my goal of net passive income of 5k or more. Im open to anything creative, and just would like feedback!