I would think that is your best strategy for what you want to do but even then the number of bedrooms per apartment is something the town would care about here.The short answer is they probably are not going to restore the unit but if they would restore the unit with egress windows AND the cost was not too high, I would restore a legal unit rather then risk living in an illegal unit.

- Sell all and move on to bigger deals like apartments?

Tell them if they damage the apartment you will enforce the lease for all damages done by all legal resources availableBest of luck

The 50% rule will under shoot expenses in these type of units because typically you have MORE damage and things in a $300/month apartment cost the same to fix as a $900/month apartment.

I totally agree 65th Center is okay area.If I recall correctly 65th Center is surround by a lot of small businesses.( stores, activities, beauty and barber shops, etc )Most family that would move into this apartment building would be looking for Wauwatosa education for their children.Just my two cents

I used to try to figure out the why when I had a 20 unit apartment building.

There were ads for Waukegan apartments there.

It was left up to the borrower to do after closing apart from the closing.

There is currently a ton of apartments being built in the loop.

We want to buy 10 houses to owner finance this year and sometime next year we want to start buying apartments.