I’ve been working in this space for over 20 years, and I’ve seen firsthand how choosing between neighborhoods versus suburbs can significantly impact your returns.City Neighborhoods: Wicker Park, Logan Square, and BridgeportIf you’re eyeing Chicago neighborhoods, I’d suggest considering areas like Wicker Park, Logan Square, and Bridgeport.

Calvin Lee,You won't really find a 7 cap Dollar General in a strong suburban to urban core location unless limited years remaining on primary lease term and mostly cash deals or very small financing.The brand new Dollar Generals with upgraded construction all around in strong suburban to urban core areas tend to sell for 5.75 to 6.4 caps with new leases in place.The 7 cap new Dollar Generals tend to be in crap areas weak suburban to rural and cheap construction and many times on septic systems instead of county or city sewer.Every once in awhile in a strong location there might be a 7 cap with 10 years left on a high end Dollar General at 3 million in price or up.These have no rental increases in primary lease term so year over year your income dollar becomes worth less and less.

Terry,Have you weighed out the pro's and con's doing a fix & flip and capital gains versus fix and hold long or short term rentals?

You may also want to look at a cash out refinance to eliminate one or more Heloc or a few credit cards to lower your DTI and outgoing monthly debts.A heloc is a risk since its an open end mortgage like a credit card which carries a higher risk versus a 30 year mortgage. 

I don't have to visit my properties much because I have a team in place for each thing, systems in place to make most tasks automated (cleaning scheduling, guest communications, etc.), and emergency systems in place for when an emergency occurs.

So there should be a difference if the house was damaged by flooding versus winds/tornado. 

The township may eventually update its records based on this data, but it’s not an automatic or instant notification system.4.

I am considering constructing a modular home which should reduce the construction period to 4-6 months versus traditional home construction.

However, they no longer have the property in their system due to release of mortgage.Any options when the bank owns the property? 

Investors thought they could extend their debt, but that doesn't appear to be the case with what has happened to rates.This cycle would have been a disaster if our banking system was in the same situation as 08.