In high-cost markets like Chicago, that can be tough to meet.If you're looking at a duplex, the self-sufficiency test doesn’t apply, so you’d just need to qualify based on your personal income and the rental income your lender allows.If your current lender isn’t familiar with making FHA work in your situation, it might be worth getting a second opinion from someone experienced with FHA multi-unit financing.

There are any number of Real Estate schools available to you, so choose the one that compliments your learning style, whether that be online or in person or a hybrid. 

He never picks the student that just wants to earn $x / month in passive cash-flow.  

In layman’s terms, I took all of my earned income to continue with the rehab only paying down my debt when someone else paid me (my lender via draw money).I won’t bore you with the details, but this lasted about 6 months.

I warn people over and over and over to know what they are buying and to go personally see what they are buying. 

This person did not raise any money, they invested around $600,000 into the offering and because they were one of the larger investors were considered a Co-GP because it was a new sponsor and they needed this persons $.

I spent many years managing myself and personally collecting rent checks. 

Any insights or personal experiences would be greatly appreciated!

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

I personally will try to avoid buying a home under 1000 square feet again.