Chicago buy and hold

[Account Closed]

I need your help BP contributors!

I am seeking my first rental property. I have been researching many different markets and I feel that I am suffering from analysis paralysis although I know that I am ready to make a move and have seen good opportunities. I want to know if anyone can provide me with insight into the Chicago market (neighborhoods worthwhile, neighborhoods to completely avoid, articles/data on why Chicago is a good rental market, etc.) I am looking for a turnkey opportunity as a buy and hold investment, because I do not have time to scour the MLS and work with a realtor. I want something that is ready to go, fully-rehabbed and with tenants in place and I am willing to pay slightly above market value to do this. A BP colleague recommended a turnkey provider that invests in Chicago (and their properties are multi-family in Cook Co.) but I have not been able to find other providers. Do you know of any other turnkey providers that sell Chicago property? I know there are good and bad areas of Chicago, as there are in any city- but on the same note, I see Chicago as a great opportunity to invest for cash flow despite its crime rate and spotty neighborhoods (I see a lot of 8-10% cap rates for multi families). The lake view area properties are out of my range price-wise and the numbers do not make sense, so I want to focus on the south side. The south side seems to have a lot of renters and the rent-to-value ratios are above 1 %. Let me know what you think and I'd appreciate any further advice!

Thanks,

--Jon--