Live for Free With a Two Flat in Chicago

In Chicago, a large amount of lots in the city are filled with multi-unit buildings including two-unit buildings called two-flats. The standard two flat is made of a wood-frame, brick or greystone and will be two stories high with a basement and a 25 foot wide x 125 foot deep lot.

These two flats in Chicago have been used for decades as a way for families to have friends or relatives live in the same building while providing separate places to cook, shower and sleep. But as time went on, two flats have become an amazing starter investment vehicle for real estate investors serving the needs of shelter (literal and tax) and investment.

Having bought a two flat myself as my first purchase in real estate, I understand some of the challenges that people are going to have to overcome prior to making the investment. Here are the most common objections:

1. I don