Looking to invest in the Chicago area

[Kashif Khan]

Hello BP members, I am new here and have been an infrequent visitor on bp for the last year or so. I am looking for advice and guidance on how and where to invest in the Chicago area. I currently do not own any income properties. Looking to play around with $200K - $300K. With my budget, how can I best leverage my investment for income? What kind of income should someone with this kind of cash generate from investing in rental properties? I am seeing mixed information, some say buy multiple single family homes, some say buy apartment buildings. Is it reasonable to expect to take home 5K - $7K with this kind of money? What value properties should I be looking at if I have cash $200k - $300k. As you can tell, I am looking for general and specific advice/guidelines. Any and all information will be appreciated. Happy to share more if you have questions. KK