Got new renter, but the 2nd contractor cut some corners, took about $10k to finish it and the others. 

Investor Consequences: Deferred Maintenance: Reduced rental income might force some investors to cut back on repairs, leading to property deterioration over time.

If it is later in the project, and most of the money is spent, well that is where reserves come in (hopefully those aren't blown through).If you have more time than money, you go in and do work that you would prefer to have hired (i.e. cut new beds and put down mulch yourself versus paying the landscapers...).

I really liked the guy and I don't want to cut him loose, but this is business. 

I'll look at cutting that down. 

If you have to evict in Chicago, don't cut corners, and hire an attorney. 

Sorry, but I’ll be a bit more blunt than those above: this is a terrible investment.

If you think rents will continue growing and values will continue growing, then buying before rates are cut could be good.  

For now though my dad and I were talking about him getting a property in Miami that I could manage with him and for a cut and for some first experience.

We are in the season where we are getting some deer hunters coming up which is good because the big employers in this town have been cutting back so there aren't as many temp workers up here, which affects our occupancy levels.