.✔️ You’re willing to learn Chicago’s landlord-tenant laws.Consider hiring a property manager if:✔️ You have a busy schedule or don’t want landlord responsibilities.✔️ Your house hack is more than a 2-unit property and requires more oversight.✔️ You’d rather pay for peace of mind and legal compliance.Final ThoughtsIf you’re house hacking a small multi-unit (like a 2- or 3-flat) and are comfortable being hands-on, self-managing can be a great way to save money and learn the business.

Lessons learned?

Started with the flip business 2 years ago and going strong. id say start by practicing comps in your area, learn your market and go to real estate meetups.

If it is that good of a deal, I would go down to the county office and speak with them to learn the process and the timing it takes to get a permit. 

Your plan to house hack a multifamily property in Indianapolis is a great strategy to start building equity and learning the ropes with manageable risk.

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

Lessons learned?

I want to learn how to do a mole.

If a dishwasher is 15 years old and the tenant destroys it, you can't really charge them much because the appliance is beyond the life expectancy.To learn how to determine charges for cleaning and repairs, you can read my book in my signature, Brandon Turner's Managing Rental Properties, or NOLO's Every Landlord's Legal Guide.

I'm just beginning my learning journey and want to make sure I approach things with the right perspective.