If you paid $600k, great, do a 1031.

Hey Natalie if you're set on holding onto the property I have a great property manager I use for my STR's that also will cover MTR and LTR's.

It’s great for tracking payoffs and managing commissions or fees automatically while giving you a clear picture of your cash flow.For mortgage lenders, Lendesk is a solid choice.

In suburban Chicago, historical significance or celebrity ties might create a niche appeal, but they won’t necessarily drive up the home’s market value in the same way as location, condition, and local comps.For a short-term rental, though, it could be a great marketing angle—especially if the person is well-known and has a strong local connection.

Hi Steven,It sounds like you and your wife, Renee, have a wealth of experience in the real estate and construction fields, which is a great foundation for starting your real estate investing business.Given your background in residential remodeling and home inspections, and Renee's experience as a real estate agent, you're off to a strong start.

Within my 20 years of experience, it’s great to see you getting started, Sebastien!

But she is super happy loves work has great kids ( now granted they are 15 and 18 ) so easier for her to do this now.

Quote from @Brad Roche: The other thing that is great for the FHA 203K loan (not sure about the Homestyle loan) is that you can kick the payments out to 6 months of ownership (so close today and make your first payment July 12th 2025) if you are fixing up the home.

You'll maximize your returns from doing the complete project as well as a great learning experience!

Great thread.