Newbie on Chicago real estate investing

[Matteo Foglieni]

Hello,

I am 30, living in Chicago, with a W2 job (which I love), and on my way to start investing in real estate.

I have $50K saved. Currently, I am focusing on learning as much as I can on rental property via podcasts, books, forums, and blogs.

BP has been helpful on this.

I don't hear many people talking about buying condos as rental property. HOAs might be difficult to deal with but, to me, they look easier to manage as long as I find the right deal. Am I wrong?

Investing in SFH seems the right move for a newbie. Will my budget be suitable to overcome a conventional 20% down and rehabbing costs in Chicago or burbs?

I understand that getting the first couple of deals creates momentum hence I expect nothing more than a minimum cash flow or breaking even for the first year.

Thank you for the help

Matteo