Keep stockpiling cash and dropping your expenses down to 50% or less of your income so that you have a huge chunk to throw at your property when the time comes to pulling the trigger.Brian

I live nearby and know the local market VERY well.Let's talk!

Personally, I set up a bank account for each of my tenants at a nearby bank and tell them to deposit the money into that account.  

That's nearby

Use to live nearby Oak Forest.

Great to have you here @Rich Lopes, you can find nearby investors by connecting here https://www.biggerpockets.com/meet

So this brings me to what ideas and questions i have: i am looking at a nearby new construction multifamily property (townhouse), where the area/location has great schools and convenient  to many amenities such as shopping and easy access to downtown.Also, this townhouse is a new construction property and should reduce or eliminate  my expense cost for the first couple of years due to warranties.  

Check out the nearby members and network https://www.biggerpockets.com/meet, it will help you a lot to find partners that can help you out in investing.

Check out the nearby members and network https://www.biggerpockets.com/meet, to find partners that can help you out in investing.

Linen Service/Laundry - I actually keep this with the crew, because with the size of our washer/dryer, it only takes the crew about 15 minutes longer to complete all of the linens - I find this easier than managing an additional external stream (separate linen service)Keys/Access/Exchanges - My unit is a condo, so it's automated via a lockbox nearby, and an electronic lock on the apartment door.