Sleepless in Chicago

[John Hauser]

BP Nation:

We're looking at a buy and hold deal for a building on the south side of Chicago which has two 4-bedroom places (rent $1275 each) and one 3-bedroom place (rent $900). The neighborhood isn't so hot but the rents are reasonable for the area. I'm curious whether people have advice or experience about 4-bedroom rentals. Are they more likely to be vacant because the number of interested tenants is less? Do they attract more long-term tenants since they tend to be families, or does it not make a difference?

Other than those concerns, the deal looks pretty good so I'm interested to hear what people say. Thanks!

John