@Ramsey Doumani This is a great plan.

If you don’t care about maximizing loan amount then you could start whenever.

My plan was to purchase a lot and build a foundation, bring in a doublewide/manufactured house. have it placed on foundation and have a structural engineer reclassify it as fixed real estate. then, I would refinance. 

.✅ Hands-On Experience – If you plan to grow your real estate portfolio, managing tenants yourself can teach you valuable lessons about leases, maintenance, and local rental laws.✅ More Control – You’ll personally handle tenant screening, rent collection, and property upkeep, ensuring everything is done to your standards.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.

Any advice would be appreciated.I would first talk to a real estate attorney or a foreclosure attorney to make sure that the way you plan to do things passes muster.

He's a CPA with a focus on strategic tax planning.

Just be sure they have a strong plan in place to market your properties quickly and that you thoroughly vet their tenant screening process to ensure minimal vacancy and high-quality tenants.Ultimately, finding the right PM should make your life easier, not harder.

The open floor plan and natural lighting make the space seam bright and airy while the community features like the tennis courts Pool and guard service will make you feel at home.

You could also take out equity if you want to keep the condo and use that for another investment, but I’d be careful about over-leveraging.

However, if the 401k has business income, it will be subject to UBIT.An IRA is not subject to capital gain taxes because it is a tax-deferred retirement plan.