Thinking about buying my first duplex in the Chicago suburbs

[Jacob Dawson]

Hey guys, a little background before my question: 

I am 21 years old, and I live in the Chicago suburbs. I am currently a commercial real estate broker specializing in retail, and so far, I have made roughly $25,000. I am looking to invest some or all of that money into an investment property in the Chicago suburbs. I am looking to buy in the western suburbs where I grew up. I am looking at a few towns such as Oakbrook, Clarendon Hills, La Grange, and LaGrange Park. But I'm open to other cities. I decided that I am going with a 3.5% or 5% FHA loan and owner occupy one unit for a year. I plan to look at a turnkey, and slight value add deals.

When it comes to multi-family, I am a little less knowledgeable about what is a "good or great deal." or what you should account for when it comes to expenses.

My question is, where do I start when looking for a "good or great deal" and what are the signs that a deal is right. All of that is subjective and based on my own risk and reward balance. But in a general sense, what should I stay away from?

Thanks!