Looking for Rental Property Advice: Elgin, IL

[Elier Roman]

Hello everyone,

I am currently in Elgin, Illinois and I got pre-approved for $280,000 for a Multi-Plex property through a VA Loan. Currently looking for properties within a 15-20 mile radius around Elgin and Saint Charles, Illinois that generate good cash flow and need minor repairs. I also have an appointment with another bank/credit union because I am trying to look into an FHA/Conventional loan instead with hopes of getting pre-approved for $300k+, I feel more comfortable investing on a 3-plex or 4-plex at that price range. I have over $30k of easily accessible cash and will be making dual income from October to December from leaving the military and working full-time. I am debt free other than my Auto-loan. Any advice or recommendations are greatly appreciated. This will be my first income property but I have educated myself on almost everything necessary to take on this journey.