Chicago condo investors? Cashflowing more then multifamily

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Wondering if any condo investors in Chicago like to share their experience. What are you budgeting for annual repairs/reserves in the typical 2br gut rehabbed low rise condo? 

Lincoln Square 180k 2br 2ba all in $1100 a month. Rents for $1800 they pop up and go under contract fast but are out there. Other areas I am seeing the occasional 2br 1ba in west town going for 220-240k which after amortization net $9000 a year on only $22,000 down at 10%. I do leasing and am confident can keep 100% occupied in these two neighborhoods with quality tenants and right price. 

Running the numbers a lot of these cash flow actually better then the current multifamilies from on cash on cash standpoint. I am seeing most multifamilies selling below 6.5 caps basically speculating on appreciation (which is never promised). The exception being Bridgeport and some deals here and there by University of Chicago (not including high crime areas).