Miami Rental Market Update: Rents Drop $200 as Affordability Remains a ChallengeMiami has officially ranked as the second-most unaffordable city in the U.S., but there’s some good news for renters: local rents have dropped to a 3-year low, with decreases of up to $200.

Maybe your area of Chicago has far lower vacancy than city wide. what does the following depict as profit (50% rule):Profit per 50% rule: Rent * 0.5 - P&I?

Since the HELOC was used for a business use (renovating the rental) you can deduct the loan interest against that rental using the interest tracing rules found in §1.163-10T. 

The lower rate or longer term can also make the payment more affordable. 

Being prepared for these hurdles can make all the difference in achieving long-term success.

Quote from @Michael Elliott: Have been analyzing data in STR Insights following a great week at the STR Wealth Conference in Nashville. 

I buy in the 220-260k range.

The permitting department is catching up on responses and we apologize for the delay - it was as if everyone was looking for updates at the same time at the new year mark and follow up questions as well.  

Thanks for the input!

However, about eight days later, the seller informed me that they had "changed their mind" and no longer wanted to sell.In the weeks that followed, the seller failed to provide the required documents, including HOA disclosures, the seller’s disclosure, and other essential paperwork, all of which were due within specific timelines per the contract.